The former Walking Dead showrunner will also executive produce the TNT project, which is based on the book by John Buntin.
L.A. Noir charts the war between Los Angeles police chief William Parker and his mobster nemesis Mickey Cohen.
Darabont departed The Walking Dead in July amid rumours that he had been fired following a budget dispute with AMC.
Moneyball producer Mike De Luca and Elliott Webb will also executive produce L.A. Noir alongside the Shawshank Redemption filmmaker.
Darabont recently revealed his aborted plans for The Walking Dead's second season premiere, featuring Being Human star Sam Witwer.
TNT is also developing a medical drama pilot with Ally McBeal creator David E Kelley, cop series Scent of the Missing starring Tricia Helfer, and Western project Gateway with Terriers actor Donal Logue.
> Walking Dead exec: 'Frank Darabont exit won't affect show'