The Family Guy creator will release the record - made up of 1940s and '50s musical numbers - with Universal Republic Records, reveals The Hollywood Reporter.
MacFarlane revealed that the album will include show songs from composers such as Rodgers and Hammerstein and Lerner and Loewe.
The 36-year-old said: "It's rare in this day and age to have the opportunity to create an album that celebrates the classic, sophisticated sound of rich, lush swing orchestrations.
"It will be an absolute joy to sing this music, and I look forward to working with the entire team at Universal Republic on what we intend to make an exceptional project."
MacFarlane has already won an Emmy Award for 'Outstanding Music and Lyrics' in 2002 for the Family Guy song 'You've Got A Lot To See', and is nominated for the same award at this year's ceremony for the controversial 'Down's Syndrome Girl'.