The re-imagining of the 1987 film starring Frank Langella and Dolph Lundgren was originally penned by writer Justin Marks in 2008.
Columbia has since announced that it has recruited Predators screenwriters Mike Finch and Alex Litvak to redraft the script, reports Total Film.
"[Finch and Litvak are attempting to] balance a treatment that would convince the studio it was cinematic and keep the toy company satisfied that its characters were being portrayed appropriately," said Columbia.
The remake will purportedly follow closely to the original, which featured an eternal battle of good versus evil and a magic sword that could potentially save the universe.
A production schedule for He-Man And The Masters Of The Universe has yet to be released.