One Shot will follow rap veteran Crooked I, MTV personality Sway Calloway and record executive Mike Smith as they search for the next big star in cities including Atlanta, Georgia, New York, Miami, Florida and Los Angeles.
Chosen contestants will have to prove they have what it takes to reach the big time during weekly shows, during which a panel of judges will decide who will go through to the next round.
The panel will also include artists DJ Khaled, Twista, DJ Drama, E-40 and Scarface.
The final four will head into a studio with producer Jonathan Hay and Smith before the season finale in Las Vegas, where the winner will receive a $100,000 (£62,500) cash prize and a record deal with Smith's SMH Records.
One Shot is expected to premiere next year (15), according to AllHipHop.com.