The comedy focuses on a man who is trying to move on from the death of his fiancée with the help of the members of his basketball team.
Michalka has now joined the cast of the project, TV Line says.
She will play the girlfriend of one of the team members.
Michalka previously starred in The CW's drama Hellcats, which was dropped after one season. She has also appeared in movies like Bandslam, Easy A and The Roommate and had a guest role in CSI: NY recently.
Malcolm Barrett and Hayes MacArthur will also appear in Rebounding, along with Breaking Bad star Matt Jones.