The original movie adapted Chris Van Allsburg's Caldecott Medal-winning adventure book and told the story of two kids who let loose a man trapped for decades in a board game. With this, they also unleash a jungle's worth of creatures into the world.
The upcoming film is being described as a new take on the book, said The Hollywood Reporter.
Produced by Columbia Pictures, the remake is set for a December 25 release.
Kasdan has shown a deft hand for sweet-natured comedy, directing episodes of TV's "Freaks" and "Geeks", besides "New Girl", as well as the Cameron Diaz black comedy "Bad Teacher" (2011). He also helmed the 2014 comedy "Sex Tape".