The Bodyguard is reportedly the latest movie set to get the remake treatment.
The 1992 drama featured Whitney Houston in her first acting role as a music superstar and Kevin Costner as the former secret service agent hired to protect her.
It was a global hit and its soundtrack is one of the best-selling in movie history thanks to songs including I Will Always Love You and I Have Nothing.
A reimagined version is in the works, with acclaimed playwright Matthew Lopez writing the script, according to Variety.
It is said to be in development at studio Warner Bros.
No casting choices were announced.
Houston, who died aged 48 in 2012, played actress and singer Rachel Marron, while Costner's Frank Farmer gets hired to protect her from a stalker, and the pair fall in love.
The Bodyguard was dismissed as cheesy and melodramatic by critics upon its release and received seven nominations at the Golden Raspberry Awards, the parody ceremony recognising Hollywood missteps.
The nods including worst picture, worst actor for Costner, 66, and worst actress for Houston.
Despite the critical opprobrium, The Bodyguard has proved to be enduringly popular with audiences.
The soundtrack won the Grammy Award for album of the year.