Titled "Madoff," the miniseries will also star Blythe Danner as his wife, Ruth Madoff. No airdate has been announced.
Here is a photo of the two stars in character.
In its announcement, ABC said the show "will follow the prodigious rise and abrupt demise of the former investment advisor and convicted felon, and the subsequent fallout on his family, associates and investors.”
Filming is currently underway, directed by Raymond De Felitta (City Island). Dreyfuss made his Broadway debut in the 1969 play But, Seriously, and appeared three more times, most recently in 2004's Sly Fox.
Danner is a Broadway veteran with more than a dozen Broadway appearances to her credit, mostly recently The Country House in fall 2014. She was nominated four times for the Tony Award, and won the category Best Featured Actress in a Play, for Butterflies Are Free in 1970.
The real-life Madoff is currently serving 150 years in prison for his crimes.