The docu-series will focus on their philanthropy but will still offer viewers a glimpse of their new life in the US, reports The Sun.
Harry and Meghan will be followed for three months but it is not clear whether cameras will be allowed into their home in Montecito, California.
It comes after they signed a deal, rumoured to be worth more than £100 million, with the streaming giant in early September.
Netflix has said it already has several projects in development but declined to offer more information on the new series.
A Netflix spokesman said: “The couple already has several projects in development, including an innovative nature docu-series and an animated series that celebrates inspiring women but we are not disclosing any of the programming slate at this time.”
Harry and Meghan stepped down as working royals at the end of March for personal and financial freedom.
The couple have set up a production firm to create their films and documentaries and are committed to diverse hiring practices for its key roles, Netflix has indicated.
The duchess has already started her life in the commercial world, narrating a Disney film about a family of elephants and their journey across Africa that was available to stream in April.