The Hollywood Reporter confirmed that Murphy and producer Shawn Ryan are shopping the series to the broadcast networks this week.
Murphy would return as Axel Foley, the character he played in all three "Beverly Hills Cop" comedies.
Celebrity website Vulture.com first reported the story, saying Murphy would appear in the pilot and in a few other episodes throughout the season.
There's a twist -- the show is being described as an hour-long crime procedural with comedic elements.
