The comedic drama centers on three mothers (Reese Witherspoon, Nicole Kidman and Woodley) of kindergartners whose apparently perfect lives unravel to the point of murder, said the Hollywood Reporter.
Based on Liane Moriarty's book of the same name, "Big Little Lies" hails from David E Kelley (Boston Legal, Ally McBeal), who is writing the seven-episode limited series.
HBO landed the project in May following a bidding war with Netflix.
Skarsgard will return to HBO after rising to fame in the cabler's vampire drama "True Blood" and portray Perry Wright, a successful businessman, father and devoted husband to Celeste (Kidman).