The series, which first aired in 2005 and was hosted by June Sarpong, tricks contestants into believing that they are taking part in a programme called Dream Date.
They soon discover that they are on Playing It Straight, where one single girl must choose her perfect man. However, some of the male contestants are gay and must convince her that they are heterosexual.
After eight weeks, the woman has to pick her dream date. If she chooses someone straight, they share £50,000, but if she picks a gay man he will keep all of the money.
The new series of Playing It Straight, which is being filmed in Spain, will be hosted by T4 presenter Jameela Jamil.
Channel 4's commissioning editor David Williams said: "It feels like the perfect time to bring the much-loved Playing It Straight to a whole new E4 audience - a generation with more buff boys with a liking for moisturiser than ever before, making the task faced by our lovely lady more tricky than ever."
Playing It Straight will be broadcast on E4 next year.
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