According to The Hollywood Reporter, "Straight Outta Compton" writer Jonathan Herman has been hired to pen the movie.
The updated film will offer a fresh take on the immigrant story and will apparently be set in Los Angeles.
"Scarface" was first released in 1932 and remade in 1983 with Al Pacino, who played a Cuban refugee who goes from nothing to a powerful drug dealer in Miami.
A third version of the film has been a long time coming and gone through several drafts by Paul Attanasio and David Ayer.