The show, currently called King of Neds, will see Jones playing a man who is fought over by a number of women, The Sun claims.
Other stars who have allegedly landed roles in the series include Brenda Blethyn and Alison Steadman.
"It's very top secret but Tom has agreed to do it, which is pretty exciting as he doesn't really do acting," a source said. "He won't be playing himself but his character isn't a million miles away from his own.
"Essentially it's a very British love story. Tom's character is the subject of attention from hordes of women but his heart is not in the sleeping around game. He ends up getting together with a childhood sweetheart, played by Alison, and the show is all about how sweet that kind of love is."
The news comes shortly after the BBC confirmed that Jones has signed up as a judge on new talent competition The Voice.
King of Neds is expected to air next year on Sky Arts.
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