The former Ghana international will coach in the Baller League, an initiative co-founded by Borussia Dortmund star Hummels.
The Baller League is a new indoor football format based on quick-hitting matches on small pitches.
The games will be played at one location over several weeks during the Bundesliga's winter break and teams will be comprised of ambitious amateurs and semi-professionals.
Boateng and Hummels were former teammates at youth level with Germany and journalist Fabrizio Romano shared the news of Boateng's new venture on Thursday.
Romano wrote: "Kevin Prince Boateng, ready for a new chapter after retiring - as he's expected to start in 2024 as the new team manager in Mats Hummels' Baller League. His career will turn into a new experience soon."
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Boateng announced his retirement from football in August at the age of 36 after a 19-year playing career.
He represented AC Milan twice and had spells at fellow Serie A side Fiorentina and Barcelona where he picked up a La Liga winners medal in 2019.
Boateng also tried his hand in the Premier League, spending two seasons at Tottenham before moving to Portsmouth.
The midfielder played for 15 clubs during his career and opted to represent Ghana at international level having played for Germany at youth level.
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He earned 15 caps for the Black Stars, registering two goals and played at both the 2010 and 2014 World Cups.