DeVincentis is known for writing the screenplays for Grosse Pointe Blank (1997) and High Fidelity (2000).
The Hollywood Reporter states that DeVincentis will script the film, which is an adaptation of 1974 ABC series Kolchak: The Night Stalker.
Edgar Wright will direct Depp as Carl Kolchak, a Chicago reporter who investigates strange crimes with a supernatural element.
Depp currently stars in Tim Burton's Dark Shadows, which is itself an adaptation of a 1960s television series.
Watch a trailer for Dark Shadows below: