The deal was finalized by the ADD content agency's international business development manager, Hadas Mozes Lichtenstein.
The American version of the show will be produced by Sarah Timberman of Timberman/Beverly Productions, which is responsible for drama series "Masters of Sex," among other programs.
The script will be written by former "Gossip Girl" and "Grey's Anatomy" writer Natalie Krinsky, whose parents are Israeli.
Adam Berkowitz, co-head of television at Creative Artists Agency (CAA), was responsible for brokering the deal on the American side.
"The Prime Minister's Children" was created by Shahar Magen and Noa Rothman, the granddaughter of slain Prime Minister Yitzhak Rabin. The series, produced by Koda Productions, went on the air on May 2012, and returned for its second season a year later.
The show follows the family of Prime Minister Shaul Agmon (played by Rami Heuberger), his wife and two children, whose life changes from one end to the other upon entering the prime minister's residence in Jerusalem.
Sarah Timberman said in a press release that the challenges and complexities of being part of the "first family" were investigated in such an openhearted way in "The Prime Minister's Children,' which was not surprising considering the show's creators.
Timberman added that she saw it as a huge opportunity to ask the same question in the context of the US presidency.
Adam Berkowitz of CAA said he was "glad to be part of the process of exposing the excellent Israeli television to the American market, while maintaining the involvement of the series' original creators, and the interfacing points between the Israeli and American versions."
Scriptwriter Natalie Krinsky said, "I am so excited and feel a great honor to be writing an Israeli series, in light of my connection to Israel."
"The series has huge potential abroad. The fact that the series deals with the tension between private and public, focusing on people who are busy with their small life at one moment and make fateful decisions the next moment – all this can work excellently anywhere."