Per The Hollywood Reporter, the 52-year-old actress will both star in and executive produce her first on-air series for Hulu through.
According to the outlet, Pompeo will be reducing her screen time on ABC's longest-running primetime medical drama "Grey's Anatomy".
Although her on-screen commitment has been scaled back, Pompeo will remain the primary narrator for the majority of the next season.
Back in December, the SAG Award winner revealed to Insider that she had been actively working on wrapping the series behind the scenes.
"I've been trying to focus on convincing everybody that it should end," she admitted.
Pompeo is earning more than $20 million per year, plus an additional estimated $6 to $7 million as a producer on the show.
Creator Shonda Rhimes has said on multiple occasions that "Grey's" will end whenever Pompeo says she's done.