Perry's mother, Laurie Metcalf, plays the role of Sheldon's mum in The Big Bang Theory itself.
Jon Favreau, the man behind Iron Man and a recent re-make of The Jungle Book, will direct the first episode which has been written by Steve Molaro.
During Big Bang's 10-season run, many references have been made to Sheldon's childhood, growing up as a gifted youngster in Texas with a religious mother. Jim Parsons will narrate, Wonder Years-style, as grown-up Sheldon.
Jim will also act as an executive producer on "Young Sheldon", with child actor Iain Armitage nabbing the lead role.
Speculation about a programme following Sheldon Cooper's early life has been circulating for months, and USA television network CBS has now officially confirmed that a new show will centre on the fictional theoretical physicist's days at high school in Texas.
The biggest shock of all comes with the choice of actor to play Sheldon in his younger years.
A "Big Bang Theory" spin-off has officially been given the green light. Sheldon will also have a father, a twin sister, and older brother.
Back in January, Parsons spoke to Entertainment Tonight about the spinoff, saying the idea to do a series based on Sheldon's formative years was an opportunity too good to pass up. How the young prodigy would interact with his older classmates and teachers would most likely be among the most prominent points of humor in the upcoming comedy TV series. Young Sheldon is described as Malcolm in the Middle with just a young Sheldon.
Jim Parsons who plays Sheldon Cooper in the original series will be a part of this one too. The prequel, a single camera, and half-hour comedy, is scheduled to air next season.
CBS boss Les Moonves has also revealed that the cast are now going under negotiations to renew their contracts for two more seasons.