The drama focuses on the legendary rivalry between the Hatfield and McCoy clans, which almost led to a war between West Virginia and Kentucky.
Kevin Costner has already signed up to star in the project as 'Devil' Anse Hatfield.
Paxton has now joined the miniseries' cast as Hatfield's rival Randall McCoy, Deadline reports.
Paxton recently finished work on Big Love and had claimed that he was not looking for more television roles.
Paxton's film credits include Titanic, Apollo 13, Twister and True Lies.
Meanwhile, Kevin Reynolds has signed up to direct The Hatfields and McCoys. Reynolds has previously helmed movies such as Tristan + Isolde, The Count of Monte Cristo, Waterworld and Robin Hood: Prince of Thieves.
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