The currently untitled project, which will be executive produced by the 55-year-old comedienne, will also be penned and co-executive produced by Liz Feldman of "2 Broke Girls" fame, reported Digital Spy.
The series focuses on a lesbian and her straight male friend who fall pregnant just as he meets and marries the love of his life.
Warner Bros TV and DeGeneres's studio-based A Very Good Production are producing the project.
Feldman previously worked with DeGeneres on her hit talk show and wrote for her first stint as Oscar host in 2007.