Tino Guevara is going through difficult times, struggling with unemployment, mounting debts and the full-time responsibility of caring for his mother and two children. He runs into Guzmán Muriel, the now successful executive of Aidé Mosqueda, owner of an important online sales company, both of whom are former high school classmates of Tino. Tino is invited to a school reunion, and to avoid feeling overshadowed by the achievements of his former classmates, he convinces them that he met all the criteria for a successful adult.
However, the biggest surprise comes when Aidé, the formerly shy nerd who was bullied, reveals that Tino is the father of her rebellious teenage twins, the result of the night they spent together following the graduation party. Despite his disbelief, Tino sees this as an opportunity to fix his financial problems at home and takes on the new parental responsibility by working at Aidé's company. When Tino and his family move in with Aidé in an attempt to integrate into their new life, the household becomes a battleground as their children have trouble adjusting, and to make matters worse, a torrid romance begins to develop between Tino and Aidé, who at first only agreed to act as co-parents.
Thanks to the same school reunion, friends who share a past with Tino and Aidé also end up working in her company. They are: Clara Luz, a talented musician who works as a security guard at concerts, Rudolf: a former child star who now sings his only hit in a bar; and Chano and Lichita, high school sweethearts who got pregnant in high school and now have three children; despite their daily arguments, they want to achieve the goals that were left on the back burner when they had their first child.
Just as Tino begins to find his footing, two obstacles appear: Facundo, Aidé's ex-husband, who seeks to regain the luxurious life he lost after the divorce, and Guzmán himself, who, behind a friendly facade, plans to swindle Aidé. Tino discovers Guzmán's intentions, but is trapped in blackmail when Guzmán threatens with revealing a painful truth to Aidé. Tino is faced with the choice of keeping quiet and allowing Guzmán to continue with his plans or revealing the truth but risking his newly reconstituted family.
In December 2023, it was reported that Rosy Ocampo had started pre-production on her next telenovela and that it would be unrelated to the Vencer franchise, which Ocampo had produced from 2020 to 2023. On 26 February 2024, Ocampo announced that the title of the telenovela would be Papás por conveniencia. Filming began on 24 April 2024 and concluded on 11 September 2024. On 4 February 2025, Rosy Ocampo announced that Papás por conveniencia was renewed for a second season, with José Ron and Ariadne Díaz reprising their roles.