The six hour-long episodes follows a successful pilot broadcast by ITV4 in February hosted by Ed Byrne and starring Dara O'Briain, Jason Manford and John Bishop.
According to publishers Bauer, FHM Stand-Up Hero will be the widest, most accessible, most prestigious, most publicised, most entertaining competition in the UK, with the biggest comedy prize ever.
The series will be broadcast later in the year.
The competition starts with a call for entries - an invite to upload a 3-minute routine onto fhm.com. The ITV4 series then unfolds through five regional heats, before climaxing with a grand final in front of a judging panel of experienced experts from the world of comedy, broadcast from a top London venue.
As well as performance highlights, the series will cover the best (and worst!) of the online entries and feature candid behind-the-scenes footage of the contestants.
The winner bags The FHM Stand-up Hero trophy, TV fame and £10,000 - making it the UK's biggest prize in comedy, says FHM.
Complete novices are welcome to enter, as are established regulars on the stand up circuit looking to breakout onto TV.
Geoff Campbell, MD of Bauer's Men's Division, said: "FHM Stand-Up Hero has proved to be an exciting addition to the multi-platform FHM brand, underlining our comedy credentials and creating a launchpad for an undiscovered comedy talent. We are all looking forward to working again with Baby Cow and Signal TV to expand the successful pilot into a series, and delighted that ITV4 share in our ambitions to bring the UK's biggest comedy competition to TV screens".
Baby Cow's Henry Normal commented: "FHM Stand-Up Hero is a fun show to make; ITV4 and Bauer Media are a joy to work with and everyone involved in the pilot had a good time. So in a way everyone involved wins."
Zai Bennett, ITV Director of Digital Channels and Acquisitions, said: "FHM Stand-Up Hero is a great fit for ITV4 and I’m confident that the show will prove a hit with our viewers. I’m looking forward to seeing the next generation of stand-up comedy talent making their debut on ITV4."