Deadline additionally reported the show has already been compared to Larry David's Curb Your Enthusiasm and will be full of unapologetically R-rated storytelling with A-list talent making up the ensemble cast.
While it is not yet known who the A-list cast will include, media outlets are already speculating the comedian's reality star girlfriend may make an appearance.
The series will be written and produced by the comedian himself as well as his long time friend, Judah Miller and executive producers, Dave Sirius, Andrew Singer, Erin David and Lorne Michaels.
This isn't the only project in the works for the SNL comedian who has signed on for at least three upcoming films including, Meet Cute, The Home, I Slept With Joey Ramone and Bodies, Bodies, Bodies.
A release date is yet to be announced.
Davidson has caught the eye of the public in recent months after debuting his relationship with Kardashian. The pair who met after the Skims founded hosted SNL have been dating since October last year.
The reality star spoke highly of her blossoming relationship with the comedian on a recent episode of the Making Space podcast, Kardashian revealed what was different about her relationship with Davidson, following her messy split from ex-husband Kanye West.
"We were driving in the car yesterday and I just, like, looked at him and I was like, 'Thank you.' And he was like, 'What?'" Kardashian shared.
"And I was like, 'For running errands with me. Like, this is so much fun, just to go to a doctor's appointment or go to the dentist and just run errands. I'm having so much fun.'"