The half-hour series will explore the many facets of perception with the first season focusing on the Ego through an alternate reality version of West played by Smith.
Lee Sung Jin, (Undone, Silicon Valley) is writing the script and is also serving has an executive producer.
"I'm honored and thrilled to be collaborating with everyone involved to present an alternate world through the eyes of a young man somewhere in the multiverse who happens to also be a Kanye West," Lee said in a statement. "Omniverse is not set in our world nor about our world's Kanye West as we aim to add a new spin on alternate realities, consciousness, and push the limits of half-hour narrative."
Omniverse is West's first television project while Smith has voiced the lead character in Netflix's Neo Yokio and has starred in The Get Down.