Lopez hinted at development of the series last year, and now Deadline reports that he has made a deal with production company Debmar-Mercury, which has also produced several Tyler Perry sitcoms.
The multi-camera series will centre around the day-to-day lives of a Latino family, and Lopez has described it in a previous statement as the "opposite" of his last self-titled sitcom for ABC.
The new show has is being developed for a ten-episode run by Lionsgate subdiary Debmar-Mercury, which is also producing a new FX comedy starring Charlie Sheen called Anger Management.
After the end of his long running ABC sitcom in 2007, Lopez went on to host the late night show Lopez Tonight, which TBS cancelled last year.
The 50-year-old comedian has also announced that he will be filming an HBO comedy special later in the year.