Alex Kurtzman and Robert Orci will write and produce the three-film project based on IDW Publishing's Lovecraftian horror comics, Latino-Review reports.
Written by Joe Hill and illustrated by Gabriel Rodriguez, Locke & Key is a supernatural drama that centres on a family who move to a new home and discover mysterious keys hidden within its walls.
Mark Romanek previously directed a TV pilot based on the comic, starring Miranda Otto, Sarah Bolger, Nick Stahl and Jesse McCartney, but the show was passed up by Fox.
It is not yet known whether Romanek or any of the show's cast will be involved in the cinematic revival.
A release date for the first Locke & Key movie is yet to be confirmed.
Watch the trailer for the Locke & Key TV pilot below: