Jimmy Palmiotti and Justin Gray will write the four-part series alongside artists Cat Staggs and Rich Perotta, The Source revealed.
The writing duo previously tackled the heroine's crimefighting team, the Freedom Fighters.
Phantom Lady will also feature the shrinking superhero Doll Man.
"Phantom Lady and Doll Man is an exciting return to the roots of the characters as pulpy, street level crime fighters with a few new twists and some heavy sci-fi overtones," said Gray.
"We took the best of their original core concepts and updated them with no relation to our previous work on Phantom Lady and Doll Man in the Freedom Fighters.
"You're getting in on the ground floor of the origin story of two people whose lives intersect and a common threat that transforms them into pretty amazing and engaging superheroes."
The pair have also been collaborating on The Ray miniseries, which features another of Phantom Lady's former Freedom Fighters colleagues.
Phantom Lady #1 will be released on August 29.