Grammer said he's looking forward to bringing "one of my favorite stories" to the small screen, Daily Variety reported Tuesday.
"It still plays well, and I haven't done something like this in a long time," Grammer said.
Robert Halmi Sr. is executive producer for the TV production, which will be based on the Madison Square Garden stage production of the Dickens classic. Alan Menken, of "Aladdin" and "Beauty and the Beast" fame, will compose music for the project.
The NBC venture marks the first time the Madison Square Garden version will be filmed.
The holidays promise to be Scrooge-like, as CBS recently has announced plans for a three-hour production based on "Scrooge" with composer/screenwriter Leslie Bricusse, who was behind the 1970 version starring Albert Finney.
Notable deaths of 2014 [PHOTOS]