The original show, conceived as ITV's answer to the BBC's Doctor Who, aired on the network for eight series between 1973 and 1979.
Now Deadline reports that producers Greg Berlanti and Julie Plec are looking to reboot the series for an American audience, written by Phil Klemmer (Chuck).
Berlanti and Plec are behind the top two shows on the network in Arrow and The Vampire Diaries respectively.
The Tomorrow People focused on a number of young people around the world who represent the next stage in human evolution and work together to defeat the forces of evil, in a story that has clear parallels with the likes of modern shows such as Misfits and Heroes.
This is the second attempt to reboot The Tomorrow People, after ITV re-launched the show with three new series in the early '90s.
Watch the credits for the original Tomorrow People below: