The new show, called Encore, will be executive-produced by Eric and Kim Tannenbaum of The Odd Couple, with Ellin writing the pilot script.
ET's Jennifer Peros caught up with Wahlberg in New York City on Tuesday, where he dished all about the upcoming project.
"Last time we toured with Boyz II Men, we also toured with Nick Lachey and 98 Degrees, and he called me out of the blue and said, 'Hey man, you wanna do a show together?' and we kind of flipped the idea around and came up with this thing," he explained.
Wahlberg and Lachey definitely have the right experience. Lachey's band, 98 Degrees, hit its heyday in the late '90s and early 2000s, while Wahlberg's New Kids on the Block came to prominence in the late '80s. Both groups reunied for a tour in 2013.
Wahlberg, already part of the CBS family with his show Blue Bloods, and executive producer of A&E's Wahlburgers, has also been touring with New Kids on the Block, who are currently preparing to head off on the Total Package Tour with Boyz II Men and Paula Abdul.
"We're all just so blessed," Wahlberg continued. "It's like, just to be able to have any success at all, you know -- never mind doing a tour like this -- I mean, I just feel so grateful every day that I wake up that I'm able to do things that I love, and more importantly do it with people that I love, you know, people that I respect and admire."