Kris Jenner's youngest daughters will partner with jeweller Pascal Mouawad's Glamhouse, which counts Nicole Richie and Kendall and Kylie's sister Kim Kardashian among its celebrity designers.
The new line has not yet been named, but prices for the Jenner sisters' accessories are expected to range from $19.99 (£12.89) to $69.99 (£45.12), reports WWD.
Kylie and Kendall's Glamhouse range is expected to launch next fall.
Both girls made their New York Fashion Week runway debuts in September, with Kylie appearing in Avril Lavigne's Abbey Dawn show and Kendall strutting the catwalk for Sherri Hill.
Kendall recently remarked that she prefers sister Kourtney Kardashian's style to Kim's fashion sense.
In November, Kylie was seen on a date with Australian singer Cody Simpson at The Grove in Los Angeles.
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Watch Kylie Jenner on the runway during New York Fashion Week below: