The program was created by Emmy Award-winning writer Andrew Davies, whose credits include "Pride and Prejudice" and "Bleak House."
"Mr. Selfridge" is set in the early 1900s and tells the real-life story of the flamboyant and visionary U.S. founder of London's lavish department store Selfridge's.
"Adding Jeremy Piven to our legendary list of Masterpiece actors is a real treat," Masterpiece executive producer Rebecca Eaton said in a statement Wednesday. "'Mr. Selfridge' has all the qualities viewers expect from our programs -- a riveting story, fabulous production values, a first-rate cast, and now... shopping!"
Piven is an Emmy- and Golden Globe Award-winning actor best known for his work on the HBO comedy series "Entourage," as well as in the films "Lucas," "Say Anything," "Serendipity" and "Smokin' Aces."