Robert Kirkman, Gale Anne Hurd and David Alpert are on board as executive producers, with AMC Studios set to produce the as-yet-untitled companion series, which has a target on-air date of 2015.
"Building on the success of the most popular show on television for adults 18-49 is literally a no-brainer," Charlie Collier, AMC's president and general manager, said in a statement Monday.
"We look forward to working with Robert, Gale and Dave again as we develop an entirely new story and cast of characters. It's a big world and we can't wait to give fans another unforgettable view of the zombie apocalypse."
"After 10 years of writing the comic-book series and being so close to the debut of our fourth, and in my opinion, best season of the TV series, I couldn't be more thrilled about getting the chance to create a new corner of 'The Walking Dead' universe," said Kirkman. "The opportunity to make a show that isn't tethered by the events of the comic book, and is truly a blank page, has set my creativity racing."