Deadline reports that the show is a "youthful romantic dramedy" set in New York.
It focuses on 22-year-old Jason Strider and his friends as they struggle with dating and becoming adults.
MTV's head of programming David Janollari said: "[Pants] found its right home. It has an amazing, authentic, 20-something voice, feels contemporary and relatable, and will connect with the audience."
The project has been adapted by Rosen and will be executive produced by Doug Liman, who has previously worked on shows including The OC, Knight Rider and Covert Affairs. Liman is also expected to direct a number of episodes.