Deadline reports that the Oscar nominee is to reunite with his Pirates of the Caribbean: On Stranger Tides director Rob Marshall to bring the story of Nick and Nora Charles back to the big screen.
"The Thin Man has long been a favourite of mine and with Rob at the helm, I know we're in great hands," Depp said.
It is thought that the reboot will combine elements from MGM's 1934 movie The Thin Man and its 1936 sequel After The Thin Man.
Warner Brothers Pictures Group boss Jeff Robinov remarked that Depp is "perfectly suited" to updating the sage of amateur sleuth Nick Charles.
No writer has been signed for the project as of yet.
The original Thin Man film was based on a 1934 novel by acclaimed author Dashiell Hammett.