The Walking Dead star - who recently appeared in The 7.39 as a married man who begins an affair with a woman he meets on his daily train journey to work - is to star as taxi driver Vince McKee in the three part thriller written by Danny Brocklehurst.
Morrissey, who is an executive producer on the project, said: "I am very excited to be starring in The Driver. It is the first production with my own production company, Highfield Pictures alongside RED Production Company up in Manchester.
"It is the story of a minicab driver who tries to turn his life around with the help of an old friend. Needless to say things don't go exactly according to plan!"
The drama - about to begin filming in and around Manchester - sees Vince blame himself for a family crisis and driven by guilt accepts an offer to start driving for a criminal gang, which only leads to further trouble.
Lark Rise to Candleford's Claudie Blakley has been cast as Vince's wife Ros and Coronation Street's Sacha Parkinson will play their daughter Katie.
The thriller co-stars Colm Meaney and Ian Hart in his first role alongside Morrissey since their breakthrough performance in One Summer back in 1983. The cast also includes Shaun Dingwall and Lee Ross.
Brocklehurst - known for his award-winning series Clocking Off and Accused - said: "I have always wanted to work with Dave Morrissey, one of the UK's finest actors, and I'm delighted to be finally getting the chance. The entire cast is amazing and it is a privilege to have them on board.
"The Driver is a passion project for me and I'm proud of the way it is both a character drama and a thriller. As with all my work there is a strong emotional core and it explores ordinary lives pushed into extraordinary situations."
Jamie Payne, who has previously worked on Doctor Who and The Hour, is set to direct the series.
Charlotte Moore, controller BBC One said: "The Driver is a gripping tale of an ordinary life turned upside down and it's wonderful to announce David Morrissey returning to BBC One after his fine performance in the critically acclaimed hit The 7.39."
The Driver will air on BBC One later this year.