The Blue Velvet actress, also a successful model, will front the show alongside a three-strong judging panel (pictured) comprising noted photographers Rut Blees Luxemburg, Simon Frederick and Oliviero Toscani.
In the eight-part show contestants from across Europe will compete for a €150,000 (US$167,600) prize.
The competition is open to professional and amateur photographers, and the show will air on the Sky Arts channels across Sky’s European footprint.
Phil Edgar-Jones, director of Sky Arts, said: “Today’s connected world saturates us with snapshots of fleeting moments, but the photographs that last are the result of skill, dedication and hours of hard work behind the lens.
“We hope this programme will demonstrate just how powerful and important photography remains, and that we bring some extraordinary undiscovered talent to light in the process.”