"She is a great performer and producer, and he is a terrific writer, so the two are a great team," said Shelley McCrory, senior vice president for comedy series at NBC Universal, E!Online reported.
Their production company, Is or Isn't Entertainment, is relocating to NBC Universal Television Studio where new show concepts are to be developed, the Hollywood Reporter said.
NBC hopes Kudrow will be able to boost its ratings, which have plummeted since the final episode of "Friends."
Though Kudrow is in a producing mode, she has said she would not rule out acting in a new sitcom should the right role be presented.
Under the NBC deal, several new projects are under consideration, including an adaptation of "But Enough About Me," journalist Jancee Dunn's humorous account of her life among Hollywood's glitterati.
2014: The Year in Music [PHOTOS]