The original Hanna-Barbera series followed a family living in a futuristic, utopia-like city.
The new effort will be set 100 years in the future, akin to the original series, which ran between 1962 and 1963.
According to TV Line, Family Guy executive producer Gary Janetti is overseeing a reboot, and will begin selling the new idea to broadcasters and cable channels in the US in coming weeks.
The series is expected to a multi-cam effort, and also has director Robert Zemeckis and Jack Rapke. Jackie Levine will be co-executive producer, and Nickelby, Inc. and Compari Entertainment will coproduce in association with Warner Bros.
Heritage series such as Gilmore Girls and Twin Peaks have been successfully revived in recent years.