Franco, 30, is famous for his turns as a pothead in stoner saga "Pineapple Express" and as Peter Parker's best friend in the "Spiderman" trilogy. He was seen this year in the Oscar-nominated "Milk" alongside Sean Penn.
The heartthrob actor is currently enrolled at New York University's graduate program in creative writing and is also taking classes at Columbia University.
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Powerhouse publisher Simon & Schuster will publish Franco's story series under its Scribner brand.
Franco has given up several acting roles of late to continue his education and has said he will pursue writing as a career once he finishes the degree program.
His next acting project will be in the literary vein, too -- he's set to play legendary beat poet Allen Ginsburg in "Howl," which will begin shooting soon.