The comedian is currently working on a half-hour comedy series, New York Magazine says.
The show is expected to focus on a man, played by Oswalt, who has to start dating again when his marriage breaks up after 20 years.
Oswalt is writing the project with Mr. Show scribe Scott Aukerman. The pair have previously worked together at the Los Angeles showcase Comedy Death-Ray.
Oswalt is best known for his role in The King Of Queens but has also appeared in shows including Reno 911!, United States Of Tara and Caprica.