The studio has made a multi-season production commitment to the TV series, reported Variety.
The original series will be produced by Amazon Studios in cooperation with the Estate of J R R Tolkien, publishing house HarperCollins, and New Line Cinema, a division of Warner Bros.
However, the series will not be a retelling of Peter Jackson's Oscar-winning trilogy. It will explore story set before the events in the first LOTR novel, The Fellowship of the Ring.
Warner Bros and the Tolkien estate have been shopping a series based on the classic fantasy novels and their assortment of hobbits, wizards, and warriors, sparking a competitive situation from which Amazon emerged as the victor.
Starring Elijah Wood, Ian McKellen, Liv Tyler, Sean Bean, Viggo Mortensen, Sean Astin, Cate Blanchett, Orlando Bloom and others, the three films combined to gross more than USD 2.9 billion worldwide.