The Warner Bros-owned studio is seeking writers to develop a screenplay based on Bally Midway's '80s arcade game, according to The Hollywood Reporter.
Final Destination and A Nightmare on Elm Street producer John Rickard will oversee the project, which has been described as a "smartly budgeted" monster movie.
Rampage was released for arcades in 1986, and later ported to Atari, Commodore 64, DOS, ZX Spectrum, NES and the Sega Master System, among other platforms.
The game saw a giant lizard, ape and werewolf laying waste to various cityscapes while fending off military attacks.
Rampage: Total Destruction, an updated take on the formula, was launched for Wii, GameCube and PlayStation 2 in 2006.
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