It was first reported last month that ABC were developing a new television adaptation of the comic character, originally created by Stan Lee and Jack Kirby.
Deadline now reports that del Toro will make his television debut on the project, said to focus on an origin story for a mid-20s Bruce Banner.
The Hellboy director explained that he and Eick had "coalesced a respectful but powerful way of retelling the Banner/Hulk story in a fresh way."
Eick added: "[This is a] dream opportunity to join one of my all-time filmmaking heroes... in a faithful but unique retelling of the primal, emotionally-rich tale of one of my all-time [favourite] comic books."
Del Toro is currently attached to direct the pilot episode, which Eick will script. A combination of computer effects, prosthetics and puppetry will be used to create the monstrous Hulk.
The new series is expected to launch after the July 2012 release of The Avengers, which will star Mark Ruffalo as Banner.