The three-part series focuses on the relationship between Lucy and Joe, who split up when Joe decides to travel the world after Lucy suggests having a baby.
While Joe is away, Lucy ends up having an affair with her married boss. She eventually breaks up with him, only for Joe to return to her life.
Joe is still hoping to get back with Lucy, but he is being pursued by a woman called Alex whom he met while travelling.
The drama, which has been penned by Conviction, The Prisoner and Lark Rise To Candleford writer Bill Gallagher, is expected to use flashbacks to help viewers find out what happened in the year that Joe was away travelling.
ITV's director of drama commissioning Laura Mackie said that ITV is "delighted" to be working on the show.
"Love Life is a tender and funny story about grown-ups who refuse to grow up," she said. "We're delighted with Bill's scripts as they are warm, romantic and comic as he analyses how good people come to terms with the trials of love."
Gallagher is also currently working on two new shows for the BBC, period drama The Ladies' Paradise and Christopher Eccleston thriller The Fuse.
Production on Love Life is expected to begin at the end of October.