The 51-year-old actress will serve as the editorial director for SJP at Hogarth Publishing and "will help find, edit, and publish three to four new novels a year," reported Digital Spy.
"I have always loved to read for the same reason I love to act, which is that other people's stories are more interesting to me than my own.
"As a lifelong book lover, as someone who treasures and admires the skill and talent of original and powerful storytellers it is my great privilege to be invited into the world and business of books," Parker said.
"People have tried to bottle the smell of old books, but it's the most elusive thing, like trying to recreate a great story. You can't, which is what makes it special," she added.