The Saturday Night Live alum will play a man who finds help from his pickup basketball team while recovering from the death of his fiancée, reports Deadline.
Directed by Jason Winer of Russell Brand's Arthur, Rebounding is executive produced by Steve Levitan, Joe Port and Joe Wiseman.
Both Port and Wiseman also serve as writers for the pilot.
After his stint in SNL, Forte guest-starred in other television shows as well as venturing out to star in his own movies, such as 2010's MacGruber, which was based on one of his sketch characters on SNL.
Forte appeared in Up All Night's current first season as Reed, a parent who teaches Will Arnett's character how to heat up his marriage and rediscover his manhood.
Watch Will Forte on Up All Night below (US only):