Matthew Weiner and his production company The Weinstein Company made a deal with Amazon for a reported $70 million, with the show being co-financed by the two companies.
The new show has not yet been named, but Amazon has revealed that it will initially run for 8 episodes.
Weiner himself said that the show would be set in modern times, unlike Mad Men, describing it as a 'contemporary anthology set in multiple locations worldwide'.
Weiner’s previous series, Mad Men, ended last year after 7 critically acclaimed seasons.
Mad Men charts the lives of advertising executives during the advertising boom of the 1950s and 60s.
Jon Hamm stars as main character Don Draper, who enjoys all the perks of the male-dominated workplace whilst also wrestling with the demons from his past.
The show won multiple Emmy awards and has proved to be one of AMC’s most popular properties.
Talking to Deadline, Matthew Weiner said that he was happy to be working with Amazon due to the possibility of taking more risks.
"In a time when there are so many options for entertainment, it's been tremendous to see how Roy Price and Amazon have taken centre stage by distinguishing themselves through bold choices.
"I am truly excited to have this opportunity to work with risk takers like them and Harvey and The Weinstein Company who have a proven, longstanding commitment to creative voices and innovation."
Weiner is expected to direct some episodes of the new show as well as taking on the writing role.
All 7 seasons of Mad Men are available to stream on NOW TV.
Source: Digital Spy