Pink, best known for helming the comedies Accepted and Hot Tub Time Machine, will work from a script written by Daniel C. Mitchell.
"The Toxic Avenger is exactly what the country - wait, that's not big enough - what the world needs right now," Pink explained to Deadline.
The Toxic Avenger tells the story of a bullied teen who falls into toxic waste and subsequently transforms into a superhero.
The original film has become a cult hit since its release in 1984, with news of the proposed remake announced earlier this year.
