The project is set in a Playboy club in Chicago in 1963.
According to TV Line, Krumholtz will play the club's general manager.
Jenna Dewan-Tatum, Leah Renee, Laura Benanti and Amber Heard have already signed up to appear in the drama.
Krumholtz is probably best known for his role as Charlie in Numb3rs. He also appeared in ER and The Closer and has had roles in movies including 10 Things I Hate About You and Serenity.