The 48-year-old actress has teamed up with publishers at Random House Children's Books for the book.
Margulies book, Three Magic Balloons, a story based on a tale her father Paul wrote for his three daughters, reported Entertainment Weekly.
"My father had published two children's books 'Gold Steps, Stone Steps' and 'What Julianna Could See'. As children, my sisters and I loved all his stories," she said.
"We collectively decided that 'Three Magic Balloons' was worth sending out to publishers if we could find the right illustrator."
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