The Wrong Mans is described as a "comedy thriller" and will begin filming in January 2013.
Gavin & Stacey star Corden and Mathew Baynton (Horrible Histories, Spy) will play a pair of office workers who become caught up in a criminal conspiracy.
When Sam (Baynton) discovers a ringing phone at the scene of a horrific car crash, the two men realise that it is up to them to step up and save the day.
Baynton - who also co-wrote the series with Corden - said: "James and I dreamt up The Wrong Mans during a break on the set of Gavin And Stacey four years ago. I'm excited to be working with the BBC and Hulu to finally make it a reality."
The half-hour comedy - directed and produced by Jim Field Smith (Episodes) - will be a co-production between BBC In-House Comedy and online broadcaster Hulu.
"We are trying to do a comedy with explosions, a lot of running about, murder, extortion, friendship and love," said executive producer Mark Freeland. "I cannot wait. But I'm glad I'm not doing the running about bit."
Earlier this year, Corden won a prestigious Tony Award for his performance in the play One Man, Two Guvnors and is reportedly eyeing a role opposite Meryl Streep in a movie adaptation of Broadway musical Into the Woods.
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