Drew Pearce - who is currently working on the script for Iron Man 3 - told The Playlist that the project had been put on hold to make way for Joss Whedon's Avengers movie.
"Basically, The Avengers came along and everything else at Marvel got put on hold for a year," said Pearce. "But the script is there, we're good go.
"It's kind of like [being] at the airport when you're waiting for your slot to take off with Marvel, and we're hoping we get a slot next year. Fingers crossed. They're very happy with it, so hopefully it happens."
Pearce said that work on the adaptation could begin in 2012.
Runaways is based on the acclaimed series by Brian K Vaughan, who has also written titles such as Y: The Last Man and Ex Machina.
It follows the adventures of a group of teenagers who go into hiding in Los Angeles after discovering that their parents are members of a society of villains that control the West Coast of the US.
Work on Runaways was reported to be beginning in early 2011 before it was announced in October 2010 that the project had been put on hold indefinitely.