Produced by Johnny Depp and Christi Dembrowski, the film stars Depp as tabloid reporter Carl Kolchak, who keeps encountering supernatural beings such as zombies, vampires, werewolves and aliens.
Wright will helm the project from the start with Depp and Dembrowski, reports Deadline.
The Night Stalker is the remake of two TV movies and an ABC series, which aired in the '70s.
Wright, who previously worked on Hot Fuzz and Shaun of the Dead, will also direct Marvel's Ant-Man slated for a 2014 cinema release.
Depp can be seen next in Tim Burton's Dark Shadows opposite Eva Green, Michelle Pfeiffer and Helena Bonham Carter.
Dark Shadows opens to theatres on May 11, 2012 in the US and UK.
Watch the trailer for Shaun of the Dead below: