Cage had been in talks to star in the series since last month, according to The Hollywood Reporter.
The series is expected to run for eight episodes and will be produced by Imagine Television Studios and CBS Television Studios; however, it is not clear on what platform, or network, or when the show will air.
It's going to be marketed to outlets shortly, Variety reported.
The show's source material comes from "Joe Exotic: A Dark Journey Into the World of a Man Gone Wild," written by Leif Reigstad and published by Texas Monthly.
The story will look at the life of Exotic, whose real name is Joe Schreibvogel, and how he went from being an everyday person, transforming into, and losing himself, in the character Joe Exotic, Variety reported.
This is the first television role for Cage, who is known for films like “Moonstruck,” “National Treasure” and “Ghost Rider.”
This isn't the only show in development for the streaming hit "Tiger King." Another scripted series has Kate McKinnon starring as Carole Baskin, Entertainment Tonight reported.
Baskin is a competitor to Exotic’s business.
Baskin has asked the series runners not to use real tigers or cubs, but to use CGI animals instead, Entertainment Tonight reported in March.
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