The property's co-creator Kevin Eastman will write and draw the book, which is being released to capitalise on the hype surrounding the Nickelodeon television show.
"After nearly 20 years I find myself once again fully engrossed in the wonderful mythos of the Teenage Mutant Ninja Turtles and having the absolute best time in my life," said Eastman.
"The intense creative energy flying around between IDW and Nickelodeon is when this idea was inspired and born, so with this incredible team, I'm back on the drawing board - hanging with the boys, knocking out a full blown epic - and it is awesome."
Nickelodeon acquired the rights to Teenage Mutant Ninja Turtles and will debut its new animated series on September 29. The children's TV network previously teamed up with IDW to launch a Ninja Turtles comic book app for mobile devices.
Eastman, who came up with the concept in 1984 in collaboration with Peter Laird, recently spoke out in support of the controversial Michael Bay-produced Teenage Mutant Ninja Turtles movie reboot.
Bay's project sparked a backlash from fans following the announcement that the titular characters have been reimagined as extra terrestrials, rather than the mutated reptiles of the source material.
Teenage Mutant Ninja Turtles Annual 2012 is released in October.