Both announcements came during the network’s Television Critics Association event in LA.
The singing series will be known as The Four and will compete with its former competition format American Idol, which is set to run on Fox rival ABC.
The format, which comes from Armoza Formats, sees a celebrity panel of three immediately select four finalists, who are then challenged by a new competitor each week.
News Fox was working on a local version first emerged in July.
The show’s commission represents a first major deal for Fox’s new head of alternative programming, Rob Wade, who described the format as “Game of Thrones with better singing and less nudity”.
King of the Hill, the Mike Judge and Greg Daniels sitcom about a Texan propane salesman and his family, ran between 1997 and 2009 on Fox.
Fox Television Group co-CEO and chairman Dana Walden said talks over a reboot where at the “exploratory” stage, but that the signs were positive.
Fox successfully brought back another animated sitcom, Family Guy, in 2004, a year after cancelling it.