Sam became the first openly gay man to be taken in the NFL draft when he was picked Saturday in the seventh round by the St. Louis Rams.
Cameras for the network were with Sam when he received the call that he was drafted and will follow him through training camp as he tries to make the team.
The network said the working title for the series is "The Untitled Michael Sam Project."
"We are honored that Michael is trusting us with his private journey in this moment that has not only made history but will shape it forever," said Winfrey, in a statement. "I am proud of the focus on authentic storytelling in our new documentary series format. The next real-life story we follow in 'The Untitled Michael Sam Project' promises to spark valuable, important discussion on life in America today. Acceptance and illumination start here."
"If seeing my story helps somebody else accept who they are and to go for their dreams too, that's great," Sam said, in a statement. "I am thankful to Oprah for her support and excited to work together."
Sources say the plan is for the series to be broken up in to six to eight segments. His agents Cameron Weiss and Joe Barkett are producers, as is Sam's publicist Howard Bragman.
Despite being drafted as the 249th pick in the draft, Sam's jersey was the second most popular jersey of draft weekend, selling more on the NFL's official store than any rookie aside from Johnny Manziel.
Oprah Gets Rights To Sam Series
Michael Sam's agent Cameron Weiss joins "MIke and Mike" to discuss the multi-part documentary picked up by The Oprah Winfrey Network, which will chronicle the life of Michael Sam.