The Superman writer has rewritten the character's origin, seeing her grow up far from Paradise Island.
DC co-publisher Jim Lee has also redesigned Wonder Woman's outfit, which Straczynski said was "the first significant change in her appearance since the character debuted in 1941".
"The gods, for reasons of their own but which may have something to with their survival and perhaps the survival of Earth itself, have changed the timeline," Straczynski told The Source.
"In the new timeline, years ago the gods removed their protection from Paradise Island, and left it vulnerable to attack. And attacked it was. Led by a dark figure, a veritable army descended upon the Island, equipped with weapons that could kill even the Amazons.
"Outgunned, doomed, Hippolyta gave over her three-year-old daughter to a handful of guardians who spirited her away as Hippolyta led one last desperate battle against the forces that had come to destroy all she had created. In that final battle, she and most of the Amazons were killed, though some managed to escape."
The new costume reflects Diana's new origin, growing up in an urban setting far from Themyscira.
The rebooted storyline will debut in this week's Wonder Woman #600.