The streaming service made the announcement Sunday on Twitter alongside a new image from the series featuring Douglas and Arkin.
"Michael Douglas & Alan Arkin star in a new series about two friends tackling life's inevitable curveballs as they navigate Los Angeles, a city that values youth & beauty. #TheKominskyMethod," Netflix said about the series alongside the image.
Douglas stars as aging actor Sandy Kominsky with Arkin as his longtime agent Norman Newlander.
Michael Douglas & Alan Arkin star in a new series about two friends tackling life’s inevitable curveballs as they navigate Los Angeles, a city that values youth & beauty. #TheKominskyMethod — written by Al Higgins, David Javerbaum, and Chuck Lorre — premieres Nov 16 pic.twitter.com/P9sQHiUIQV— See What's Next (@seewhatsnext) July 29, 2018
The Kominsky Method hails from sitcom veteran Chuck Lorre (The Big Bang Theory, Two and a Half Men) who wrote the eight-episode series alongside Al Higgins and David Javerbaum. Lorre and Higgins also serve as executive producers alongside Douglas.
"The show began because of my desire to write about what I'm living, which is getting older and entropy and the decay of the flesh," Lorre said during a panel at the Television Critics Association press tour in Beverly Hills on Sunday.
"It has to be funny, otherwise it's heartbreaking. There's loss of loved ones and how it affects your relationships and friendships. How do you respond to a culture that feels like it's moving away from you? That was the impetus for the show -- to do all that, and hopefully have some comedy involved," he continued.
Douglas said at the panel that he became interested in the series due to Lorre's writing and the show's mix of comedy and tragedy.
"I do try to pick projects that resonate with me," the actor said. "I certainly understand Sandy Kominsky and some of the stuff that he's going through."