The book will be published as a hardback edition plus CD, with audio content to include an original, previously un-heard music track by Starr and a reading of the story. It will be released 45 years after the song was written, the publisher said.
"Ringo Starr first composed 'Octopus's Garden' in 1968, when holidaying in Sardinia on Peter Sellers' yacht," a news release said. "The boat's captain, having offered Ringo an octopus lunch (which he turned down), explained how octopuses trawl the sea bed for shiny stones and objects to put in front of their caves, like something of a garden, and so inspired the lyrics for the song which first appeared on the 'Abbey Road' album in 1969."
Ben Cort, the illustrator of "Aliens Love Underpants" and a lifelong Beatles fan, has been signed up to illustrate the book.
"It gives me great pleasure to collaborate with Ben Cort and Simon & Schuster for the further adventures of 'Octopus's Garden.' Peace and Love, Ringo," Starr said in a statement.
"As an original Beatles fan, publishing this book is a dream come true for me," said Ingrid Selberg, children's publisher at Simon and Schuster United Kingdom. "By bringing Ben Cort on board we have arranged the perfect marriage of a truly child-friendly text, based on Ringo's popular song, with illustrations that revel in the imaginative opportunities presented by the lyrics. This is a beautiful and funny book that children, parents and grandparents will love sharing."
"Octopus's Garden" will be published in the United Kingdom Oct. 24 as hardback and CD, followed by a paperback edition in 2014. North American publication is scheduled for January.