Cullen Bunn and Brian Hurtt's Oni Press comic follows the adventures of Eddie, a man who is drawn into a Chicago turf war between three warring families of demons.
"I've been privy to some of what is planned for the series, and I gotta tell ya, it is gonna be awesome," wrote Bunn on his blog.
Hayter wrote and co-wrote on comic book movie adaptations X-Men, X2 and Watchmen.
While the comic had a prohibition-era setting, the show is to be based in modern-day Chicago.
Littlefield Co. and CBS Television Studios will produce The Damned alongside Oni Press's sister company Closed on Mondays Entertainment, reports Deadline.
Hayter, Closed on Mondays' Eric Gitter and Warren Littlefield are attached as executive producers. Oni's Joe Nozemack and Closed on Mondays' Andy Bourne will produce the show.
Bunn and Hurtt are currently collaborating on the acclaimed Oni series The Sixth Gun, which is also being adapted into a television show by Syfy.
Bunn has said that he is hoping to return to The Damned comic for another series.