A+E Networks is developing the drama for either Lifetime or History, TV Line claims.
Bonnie and Clyde - whose full names were Bonnie Elizabeth Parker and Clyde Chestnut Barrow - are infamous for their crimes across the United States during the Great Depression.
A+E is reportedly now starting work on casting stars to take part in the miniseries.
A movie about Bonnie and Clyde is also thought to be in development and was in the news last summer after dropping Hilary Duff, who had signed up to play Bonnie. She allegedly later won a severance deal worth $100,000 (£64,692).
History is also currently working on a miniseries about the historical feud between the Hatfield and McCoy families, while Lifetime has a number of projects in the works, including an adaptation of the movie Steel Magnolias.