Collider broke the news following a number of stories claiming that it was actually Christian E. Christiansen who had taken on the project.
Farmer will write the film for Dimension, while frequent collaborator Lussier will serve as director. The duo are best known for writing the recent horror film My Bloody Valentine 3D.
The proposed reboot is scheduled to begin production in 2011 for a release date in early 2012.
The first Hellraiser film was released in 1987 and went on to spawn a number of sequels.