The 24-episode series entitled Khuc Hat Mat Troi (The Sun's Song) will be filmed in both countries, starting this month.
Phuong will star as a young composer with a beautiful voice who, tragically, suffers a life-threatening disease.
"Although the door to her future can be close any time, she lives with optimism, loves life and pursues her dream of performing on stage," said Phuong.
Phuong is one of the most popular young actresses in Viet Nam. She had big success for her main role in the film Tuoi Thanh Xuan (Forever Young), which airs on Wednesday and Thursday evenings. The film was a joint production between Viet Nam and South Korea.
"The love of audiences and confidence in my ability by film producers are the motivation for me to be even better in the new film," she said.
Do Thanh Hai, director of the film, said Vietnamese actors would learn Japanese and Japanese actors would learn Vietnamese so they could work together more effectively.
A famous Japanese singer will also feature in the film, which is scheduled to be broadcast at the end of this year.
This is the second time Viet Nam Television has worked with TBS on a film. They produced a 120-minute film Nguoi Cong Su (The Partner) in 2013.
