The collection will include fashion dolls, mini-figures and more. Featuring all five One Direction members, the range will be sold globally in the fall of 2012 with the exception of the UK and Ireland.
"In the short time since the group's debut, One Direction has captured the hearts of many young fans across the world," said John Frascotti, chief marketing officer, Hasbro, Inc.
"The band is poised for continued and increasing global success," he added. "We are excited about the opportunity to provide One Direction's very enthusiastic international fan base with a diverse product line that captures the essence of the band members."
Will Bloomfield, of Modest! Management added, "Hasbro has a proven track record of successfully working with artists to market music-related brands to kids and teens around the world and both we and the band very much look forward to working with them at this incredibly exciting time."