HBO has optioned the 2004 bestseller and is eyeing former Vanity Fair and New Yorker editor Tina Brown to produce the series.
Brown, who also launched Talk magazine and penned 'The Diana Chronicles', struck a development deal to bring projects and story ideas to the pay cable network in December last year.
Variety reports that she will be joined by producer Bill Haber of Ostar Productions and they are currently seeking a writer to adapt the book.
Wolfe's novel follows young, working-class southerner Charlotte as she experiences a sexual and social awakening during her first semester at fictional Ivy League school Dupont University.
Wolfem who is best know for writing 'The Bonfire of the Vanities' and 'The Electric Kool-Aid Acid Test', has seen a number of his previous works make it to the screen including screen adaptations of 'Bonfire' and his 1979 book 'The Right Stuff' about test pilots selected to be astronauts in the early days of the space programme.
Film production company Trilogy Entertainment Group originally slated 'I am Charlotte Simmons' as a feature film in 2005 before talks dissolved.