We propose a framization of the Temperley-Lieb algebra. The framization is a procedure that can briefly be described as the adding of framing to a known knot algebra in a way that is both algebraically consistent and topologically meaningful. Our framization of the Temperley-Lieb algebra is defined as a quotient of the Yokonuma-Hecke algebra. The main theorem provides necessary and sufficient conditions for the Markov trace defined on the Yokonuma-Hecke algebra to pass through to the quotient algebra. Using this we construct 1-variable invariants for classical knots and links, which, as we show, are not topologically equivalent to the Jones polynomial.