HBO has acquired the pilot "Fat Sells," which was co-created by 25/7 Productions head Dave Broome and writer Gren Wells.
Whitaker will be an executive producer, along with Broome, on the show set in the world of the $46 billion herbal supplement weight loss industry.
Wells will pen the pilot and serve as co-executive producer.
"In a culture so obsessed with looks and weight, the idea of 'Fat Sells' -- exploring image, self-esteem and power -- was not only culturally important but very timely. It is a billion dollar industry that many people know nothing about," Whitaker said in a statement.
"Everyone is looking for that Magic Pill to change their lives ... We're taking a world not regulated by the FDA and breaking it wide open," Broome added.
"Fat Sells" will be produced by 25/7 Productions and Forest Whitaker Productions.
Whitaker, who won an Oscar for his starring role in "The Last King of Scotland," has also directed the films "Waiting to Exhale" and "Hope Floats."
Toddler uninjured after being knocked over by Obama family dog
Texas principal bans speaking Spanish, stirs controversy