Details of the project are not out yet, but it is expected to be a serialized limited series, reported Deadline.
Scott Lambert, Alexandra Milchan and Megan Ellison are on board as producers.
Russell has developed a few TV projects over the past decade at FX, CBS and ABC, but the Moore-De Niro series would mark his most significant foray into TV.
De Niro has worked with Russell on "Silving Livings Playbook," which earned him a supporting actor Oscar nomination.