The show was created to find the next big brand in fashion.
Supermodel and businesswoman Elle Macpherson will be the show's host.
Simpson's involvement in the show was announced Monday by Paul Telegdy, executive vice president of alternative programming at NBC and Universal Media Studios.
"NBC is delighted to work with singer, designer, actress and pop-culture icon Jessica Simpson," Telegdy said in a statement. "With an almost billion-dollar lifestyle brand under her belt she is sure to be an excellent mentor to our up-and-coming designers."
"Jessica Simpson has built an incredible fashion business and is a perfect mentor to our aspiring designers," added Ben Silverman, chief executive officer and founder of the production company Electus. "She will complement the buyers, Elle Macpherson and [an] amazing format."
The series will give 14 unknown designers the chance to win a multimillion-dollar contract to start up their lines in three of America's largest retailers. Each week, the show will kick off with a fashion show built around a weekly challenge intended to further develop and expand the designer's brand, NBC said.