Written and directed by Makoto Shinkai, "Your Name" is sci-fi love story, which revolves around a teenage boy and girl belonging to different parts of Japan who discover they can swap bodies.
Shinkai said he hopes that recreating the film in Hollywood will open more avenues in the world of filmmaking.
"'Your Name' is a film created with the innate imaginations of a Japanese team and put together in a domestic medium.
"Arrival"-fame writer Eric Heisserer will pen the script for the live-action adaptation.
Abrams will back the film through his Bad Robot Productions, along with Lindsey Weber.
The producer of the original 2016 film, Genki Kawamura, will also serve as producer on the new venture.