Wilmer Valderrama could soon return to the small screen full-time…

The 32-year-old Venezuelan/Colombian American actor has signed a one-year development and talent holding deal with 20th Century Fox Television.

As part of the deal, the studio will develop a television project for the former That ‘70s Show actor to star in and produce.

Valderrama will reportedly start meeting with writers next week to consider potential comedy and drama projects. He could also bring his own show ideas or elect to join a project already in development at the studio.

Should the project Valderrama gets attached to not get a pick up, the studio has the option to cast him in another pilot for next season.

Valderrama, who recently starred on the studio’s NBC drama series Awake, has had a similar development/holding deal in the past.

He’s already set to guest star on the 20th/Fox comedy series Raising Hope where he’ll play Melanie Griffith’s boyfriend.

“Wilmer is that great cousin who is funny and charming and talented, and you want him to come to every gathering,” said 20th Television’s head of casting Sharon Klein. “He is a breath of fresh air, all light and fun and smart.”

Along with his acting work on recent shows like Suburgatory and Are You There, Chelsea?, the actor is creator/executive producer of MTV Tr3s’ Ricardo Laguna Project and the webseries King Of The Floor for the YouTube channel NuevOn.

He’ll next be seen in Spike Lee’s The Girl Is In Trouble.