Inspired by Beth Macy's 2018 novel of the same name, the Hulu show explores the U.S. opioid epidemic through the stories of young addicts, drug dealers and medical professionals.
Keaton, who portrays a doctor at the center of a pharmaceutical scandal, will also serve as executive producer, while Barry Levinson will direct "Empire" screenwriter Danny Strong's script.
"I'm so thrilled to tell this story with a company as bold and as daring as Hulu," said Strong in a statement. "The opioid crisis is one of the most important stories of our time and I'm honored to not only pay tribute to its victims but to shine a light on the heroes that fought back. Laws were broken and many lies were told. The system failed us and 'Dopesick' is going to show everyone how it all happened."