Bård and Vegard Ylvisåker have teamed up renowned illustrator Svein Nyhus, whose children's books such as The Dreammachine and Why the World Has No Corners have been translated into many languages.
"We got the idea to do a children's book of the song early on and were so bold that we straight away asked the very best illustrator," the brothers said in a statement. "We are delighted to be working with him. Svein builds on the whole idea of the song - combining the absurd with rock-solid craftsmanship."
Nyhus said the book was meant to be "full of surprises and life".
"It is special and popular, neat and messy , noisy and poetic, childish and serious - all at once. I hope it can be joyful, surprising and inspire singing and dancing and nonsense ," he said.
The book was written by Christian Løchstøer, the Managing Editor of Tonight with Ylvis, the brothers' chat show.
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Nyhus in 2004 illustrated Why Kings and Crowns Don't Wear Crowns, a children's book written by Princess Märtha Louise.
The Fox had on Tuesday morning been seen 147 million times, making it one of this year's biggest YouTube hits. The book will be released in Norway on November 14.