Based on a novel by Robert Graves of the same name, I, Claudius tells the story of the eponymous Roman Emperor. The 1976 version was adapted by the BBC and proved to be one of its most successful series.
HBO and BBC Two will now remake the historical novel into a new miniseries, according to Deadline.
The rights to I, Claudius have long been pursued by Hollywood. Producer Scott Rudin previously attempted to mount a film version of the novel starring Leonardo DiCaprio, but the project ultimately fell through.
The 1976 version of I, Claudius starred Derek Jacobi as Claudius. Other cast members included Siân Phillips, Brian Blessed, John Hurt and Patrick Stewart.
The HBO/BBC version of the classic show will be based on two other books that Graves wrote with Claudius as the protagonist. Consequently, it will feature a different storyline from the 1976 version.
I, Claudius will be produced by Jane Tranter and Anne Thomopoulos, executive producers on previous HBO series Rome.
HBO is home to a number of popular television series, including True Blood and Game of Thrones.