The Los Angeles County Sheriff's Department has confirmed that the case will be looked at again, as new information has come to light.
"Recently, sheriff's homicide investigators were contacted by persons who stated they had additional information about the Natalie Wood Wagner drowning," the force said in a statement.
"Due to the additional information, [the] Sheriff's Homicide Bureau has decided to take another look at the case."
Wood's body was discovered in the sea near Catalina Island in California on November 29, 1981. She had been dining with her husband Robert Wagner and Christopher Walken on a yacht the night before she died.
The Oscar-nominated actress - who shot to fame in Rebel Without a Cause and West Side Story - was 43 years old. At the time, the Los Angeles County Coroner ruled that her death was an accidental drowning.
Wagner's publicist has issued a statement saying that the actor and his family "fully support the efforts of the LA County Sheriff's Department, and trust they will evaluate whether any new information relating to the death of Natalie Wood Wagner is valid".
The statement added that Wagner hopes that any new evidence "comes from a credible source or sources other than those simply trying to profit from the 30-year anniversary of her tragic death".
TMZ reports that the investigation may have been reopened in light of a new book written by Dennis Davern, who was captain of Wood and Wagner's yacht the Splendour.
The force has refused to comment further, but a press conference has been booked to take place this morning (November 18) at 2pm ET/11am PT.