The writer and producer, who penned Ridley Scott's new movie Prometheus, is said to be close to finalising a three-year deal with Warner Brothers Television, also home to Lost co-creator JJ Abrams.
"This [deal] is about me creating my next show," Lindelof said in an interview with Deadline.
"Movie life is nice and different, but I missed the energy and excitement of doing series television... I'm ready to come back to TV full-time."
Since the last episode of Lost aired in 2010, Lindelof has been involved in the development of several high-profile movies, including Prometheus, the upcoming Star Trek 2 and 1952, a sci-fi adventure written by Lindelof and to be directed by Mission Impossible: Ghost Protocol helmer Brad Bird.
Lindelof expressed an interest in creating programmes for cable television as well as for the networks.
He also claimed that he "won't be the person to come up with the next Lost", adding that he is not interested in making more shows with "wackadoo mythology".
Watch Damon Lindelof discuss Star Trek 2 and Prometheus below: