Green will produce and may voice the series, scheduled to debut in December on the cable network's Adult Swim nighttime programming segment, MTV.com reported.
The show's format is stop-motion parody, a style Green likens to "The Night Before Christmas," but with spoofing.
"Like a 'Saturday Night Live' variety show, but with toys and dolls and stuff like that. It's hard to explain, but it just looks really funny," Green said.
While the actor has a clear vision for the series, with production beginning in October, securing naming rights has been more challenging.
"It's a really complicated process where the lawyers tell you, 'You can't call it that,'" Green said, listing rejected titles, including "Buggy-boo," "Bugaloo" and "Boogadie-boogadie-boo."
Green's series will follow "Aqua Teen Hunger Force" and "Family Guy," on which Green voices the Chris Griffin character.