TV Line reports that the actor will play Tim, a university professor who has a complicated relationship with his wife, Holly.
The potential series, created by writer Chris Sheridan, will follow Tim and Holly as they struggle with issues of romance and infidelity.
Hansen previously played regular roles on both Party Down and Veronica Mars, and has also appeared in episodes of Gossip Girl and Ally McBeal.
Lovelives is currently in second position to his other sitcom, Friends With Benefits. Both projects are for NBC and will be produced by 20th Century Fox TV.