Wayans will write, executive produce and star in the project, Deadline reports.
The comedy is said to focus on two brothers who both work as police officers.
When one of the brothers begins to struggle, he moves in with his sibling (Wayans) and his family.
Wayans has previously written and starred in shows such as In Living Colour and The Wayans Bros. as well as the Scary Movie film franchise.
ABC is currently working on a number of new comedies, including sitcom Mother Teresa, a show from the writers of Friends With Benefits, a project about firefighters from the creator of Scrubs and a remake of British series Suburban Shootout.