The 45-year-old actor will play the role of Joy Richards on the show, which is being produced jointly by Netflix and BBC, according to The Hollywood Reporter.
The six-part show will be helmed by Luke Snellin, and Nick Payne will write the script.
The story follows a therapist as she attempts to keep the spark with her husband alive after an accident.
The show also features Steven Mackintosh, Zawe Ashton and Royce Pierreson.
"I am honoured and thrilled to work with Nick Payne's wonderful words on 'Wanderlust'," said Collette in a statement.
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