The Mad Men actor will play sports agent JB Bernstein in Disney's adaptation of a true story about the search for baseball talent in India, reports Deadline.
Having realised that the techniques used for cricket bowling and baseball pitching were very similar, the successful but disillusioned agent launched the reality television show Million Dollar Arm, attracting over 40,000 contestants.
Bernstein eventually settled on 19-year-olds Rinku Singh and Dinesh Patel, who had never left their rural Indian villages and had to adapt to the American way of life in order to join the Pittsburgh Pirates.
Mark Ciardi, Gordon Gray, Palak Patel and Joe Roth are producing Million Dollar Arm.
Hamm was most recently seen in Friends with Kids, which debuted last year in the US and will be released on June 29 in the UK.
Million Dollar Arm is scheduled to begin shooting in the autumn.