Mark Waid will reinvent the classic pulp property for the publisher, with Paolo Rivera providing cover illustrations, and an interior artist to be confirmed soon.
"It should come as little surprise that I have an affinity for all costumed crimefighters no matter if their adventures are 'period pieces' or not - heroism is heroism regardless of whatever year's on the calendar," said Waid.
"With this Green Hornet project, which I've been percolating on for more than ten years, I'm able to meld my love of the Hornet's legacy with a little bit of Citizen Kane and a lot of Lawrence of Arabia to tell a story never before told - the dark years of the Hornet's later career and the one mistake he makes that nearly costs him everything."
Rivera added: "I wasn't very familiar with The Green Hornet growing up, but I always thought he looked sleek and stylish - I guess I had a soft spot for old-school heroes.
"I later discovered that he was designed by H J Ward, my favourite painter of all time. The more I learned about Ward, the more I learned about Britt Reid and Kato, including Reid's familial ties to The Lone Ranger. I can't wait to render my interpretation of the green team. That, and I miss Mark Waid."
Dynamite has released a long line of Green Hornet titles over the last year, including Kevin Smith's Green Hornet, Green Hornet: Year One and the movie tie-in Green Hornet: Aftermath.
Further details of Green Hornet and Kato will be revealed at the New York Comic Con this weekend.