The currently untitled project will see the pair portray a fictional version of the first ever interracial police partners.
Rogen and his Superbad co-writer Evan Goldberg will produce, along with writer Rodney Rothman.
The story will be set just after World War II in the late 1940s, which sees the pair go undercover in jazz circles to bust a marijuana ring.
Seth Rogen signed up to star in Disney project The B Team in December.
Kevin Hart landed a guest role in ABC's Modern Family last year.
He is expected to reprise his role of CJ in Scary Movie 5 when it is released later this year.
> Seth Rogen: 'I don't think I'll ever return to stand-up comedy'