Boardwalk Empire's Lawrence Konner will write the project, reports Deadline.
"This compelling yet secretive world we are exploring is one that most audiences don't even know exists," said Vaughn. "We're excited to share its rich and heroic stories."
The Dilemma star will executive produce the series, alongside Peter Billingsley (Iron Man), Michael Lagnese (Pirates of the Caribbean: At World's End), Julie Auerbach, Gary Auerbach and Christopher Mallick.
Vaughn is also in talks to star in a movie remake of classic detective drama The Rockford Files.
The 42-year-old comic actor would take on the lead role of Jim Rockford, originally played by James Garner.
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Watch the trailer for Vince Vaughn's next film Neighbourhood Watch below: