The studio has recruited Chris Henchy to pen the script, while his partners Will Ferrell and Adam McKay at Gary Sanchez Prods will serve as executive producers, according to Variety.
A live-action, big-screen version of 'The Flintstones' was released by Universal in 1994, fronted by John Goodman, Elizabeth Perkins, Rick Moranis and Rosie O'Donnell. It was followed by prequel Viva Rock Vegas in 2000.
Warner Bros has the rights to the animated classic as part of parent company Time Warner's acquisition of Turner Broadcasting in 1996.
A television series for Fox was said to be in the works in 2011 by 'Family Guy' creator Seth MacFarlane, although the project was put on the back burner due to MacFarlane's busy schedule.