Hunted star Adam Rayner will play Simon Templar in a new pilot, Deadline reports.
Simon West (The Expendables 2) is attached to direct the project, written by Jesse Alexander (Heroes).
Created by Leslie Charteris, the Saint franchise focuses on international thief and amateur detective Templar - a modern day Robin Hood.
Charteris's novels were famously adapted for a 1960s TV series starring Roger Moore in the lead role and again for a critically-mauled 1997 film version starring Val Kilmer.
In recent years, both James Purefoy (The Following) and Dougray Scott (My Week with Marilyn) have been linked to new Saint adaptations, but neither project came to fruition.
New star Rayner most recently appeared in BBC/Cinemax spy thriller Hunted opposite Melissa George and has also starred in BBC series Mistresses and TNT medical drama Hawthorne.
The Saint's pilot is expected to be shopped to networks once filming is complete. Production is set to begin later this month.
> Hunted Adam Rayner Q&A: 'It's exciting not knowing the full story'
> Hunted creator Frank Spotnitz on series two: It's sort of a spinoff
Watch the title sequence of Roger Moore's The Saint TV series below: