A novelization of Tales of Graces F is set to be released this February 28, 2011.
The novel will feature artworks by Mutsumi Inomata herself, and the novel will be written by Go Tanaka. A sneak preview is available here. The novel is currently available for order over at Amazon.jp and will be released this February 28 for 672 Yen. Sample artworks include this, this and this.