ABC News did not release details of when the interview would take place.
Palin has proven to be a difficult target for the Democrats to attack without hurting themselves.
For now, according to Obama insiders, the Obama campaign, fearing a backlash, will not ask surrogates including Hillary Clinton to launch an all-out bashing of Palin. Instead, the Obama campaign will aim its heaviest artillery at McCain while waiting and hoping that Sarah Palin makes a mistake.
In addition, the Christian book publisher Zondervan is coming out with a biography of Palin in October. It will be entitled "Sarah Palin: A New Kind of Leader."
The Associated Press and ABC News' John Cochran, Jake Tapper and Matthew Jaffe contributed to this report