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Set in a 'mysterious world filled with dread and just-out-of-sight monsters', the series follows a group of part-time paranormal investigators as they team up to uncover a deadly conspiracy.
In the new teaser trailer, which premiered at San Diego Comic-Con @ Home's Virtual Panel, a voiceover says: "Can you feel it? Ancient magic resides all around us. Ours is not the only universe. There are realms beyond it, underneath it, a myriad of parallel dimensions."
We then see a montage of the investigators in action, attempting to document the mysterious goings-on while also negotiating important digestive biscuit dramas.
Alongside Pegg and Frost - who co-wrote the show with Nat Saunders and James Serafinowicz - the eight-part series also stars Malcolm McDowell as Richard, Samson Kayo as Elton, Susan Wokoma as Helen and Emma D'Arcy as Astrid.
A synopsis reads: "Truth Seekers is a horror comedy series about a team of part-time paranormal investigators who team up to uncover and film ghost sightings across the UK, sharing their adventures on an online channel for all to see.
"However, as they stake out haunted churches, underground bunkers and abandoned hospitals with their array of homemade ghost-detecting gizmos, their supernatural experiences grow more frequent, more terrifying and even deadly, as they begin to uncover a conspiracy that could bring about Armageddon for the entire human race."
The show will launch on Amazon Prime at some point later this year, with specific dates yet to be confirmed.
Commenting on his new series, Pegg said in a statement: "Nick and I are delighted that Truth Seekers has found a home with Amazon Prime Video. We're looking forward to working closely with them and creating something very special.
"These are truly exciting times for television and I can't think of a better partner than Amazon to accompany us on a return to the smaller screen."
Frost added: "Simon, Miles and I, and everyone at Stolen Picture, are incredibly happy to be making Truth Seekers with our new partners, Amazon Prime Video.
"It's been nothing but a joyride in seeing this mad tale of paranormal conspiracy unfold in all its understated brilliance. Amazon's commitment and support of the show and of original programming generally, showed us that we couldn't be collaborating with a bigger or better team."
Featured Image Credit: Amazon Prime
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