Producers say the series "will follow a group of extraordinary competitors from around the globe, all service members who have suffered life-changing injuries or illnesses on their road to the Invictus Games The Hague 2020, now set to take place in 2022".
Ted Sarandos, Netflix's co-chief executive and chief content officer, said: "The Duke and Duchess of Sussex and the Archewell Productions team are building an ambitious slate that reflects the values and causes they hold dear".
"From the moment I met them, it's been clear that the Invictus Games hold a very special place in their hearts, and I couldn't be happier that their first series for Netflix will showcase that for the world in a way never seen before."
Harry and Meghan have been busy since their bombshell Oprah interview, also creating podcasts for Spotify.
Harry has also joined the corporate world with a role with the employee coaching and mental health firm BetterUp Inc, as the couple settle into California and continue their move away from the royal family.