The central character moves back into his parents' New York apartment building to re-discover his roots.
No casting announcement has been made.
Kevin Napier will produce and write the show, which was developed by Stiller's Red Hour Films company. Red Hour signed a development deal with ABC Studios in November, the Hollywood Reporter said.
The Reporter said Stiller has been active in television in recent months. He and Jonathan Safran Foer -- the author of "Extremely Loud and Incredibly Close" -- previously placed the family comedy "All Talk" with HBO.