Neither Kennedy's office nor his agent would disclose to the Globe or CNN what the senator will earn for the book, slated to go on sale in the fall of 2010.
But a publishing figure familiar with the deal told the Globe Kennedy's paycheck will be higher even than the $8 million paid to New York Sen. Hillary Clinton.
Kennedy spokeswoman Stephanie Cutter told CNN, "A large portion of the proceeds will be given to charity, including the JFK library where he will place his papers."
Hachette CEO David Young said in a statement Ted Kennedy's story will be "a valuable record for anyone who cares about our government, our politics and our growth as a nation."
"I hope my reflections can contribute to a deeper understanding of many events in the history of this great country and to a more in-depth picture of an American family," Kennedy said in a statement.