This will be Franco's first time shooting an advertising campaign. The images will debut in March magazines, with the video portion of the campaign to debut online about the same time, the company said.
"We want to tell our story about our California roots and James Franco so embodies the ideals of California," 7 For All Mankind President Barry Miguel told Women's Wear Daily. "He was born and raised in California and he encapsulates that idea of freedom of expression and being modern in California."
"For me, it's an excuse to be creative. It's about having the opportunity to be creative in a new way," Franco told the magazine.
The campaign is to be shot in Los Angeles next month. It will feature a cast comprised of celebrities and models.
Franco, a painter and filmmaker, has been pursuing multiple degrees at Yale, Columbia and New York universities while juggling his busy acting career in recent years.
His movie credits include "Rise of the Planet of the Apes," "127 Hours" and "Pineapple Express." He was also a cast member of the TV series "Freaks and Geeks."