In the series, Fred Mumford, a ghost who was loser in life, attempts to find work for other ghosts in his predicament.
That team has worked for Fox, which grossed $987 million on the two "Night at the Museum" comedies.
Stiller stars with Eddie Murphy in Universal's "Tower Heist," which opens on Nov. 4. He also stars in the upcoming "While We're Young," "Madagascar 3," "Neighborhood Watch" and "The Secret Life of Walter Mitty," which he's also directing.
Variety first reported the news.