Showtime did not say when the project is expected to debut in its announcement on Twitter.
The program will be an adaptation of Gabriel Sherman's book The Loudest Voice in the Room.
Ailes died in May 2017 of complications from a fall in his Florida home. He was 77.
He resigned from Fox News -- where he served as chairman and chief executive officer since the network's inception in 1996 -- amid sexual harassment allegations in July 2016.
Crowe's credits include L.A. Confidential, Gladiator, A Beautiful Mind, American Gangster, Cinderella Man and Les Miserables. He will soon be heard narrating the documentary Turtle Odyssey.