The Sun claims that the classic format, previously hosted by the late Bob Holness, has been given a 40-episode order by TalkBack Thames.
BSkyB-owned channel Challenge TV, which is currently broadcasting old episodes of the programme, will air the batch of new editions.
While no presenter has yet been announced, it has already been revealed that the revamp will feature over-18s instead of school students.
This could be the show's third revival, after BBC Two brought it back with Michael Aspel in 1997, and Liza Tarbuck hosted a Sky1-led resurrection in 2000.
Holness, who passed away peacefully on January 6 at the age of 83, fronted Blockbusters' original run on ITV between 1983 and 1994.
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