According to Variety, the story follows a highly trained spy hunter whose job it is to eliminate rogue spies when they become liabilities to their governments.
Chad St. John has been tapped to pen the screenplay.
The original "Spy Hunter" video game was published in 1983 by Midway Games, acquired last year by Warner Bros. in bankruptcy court.
Spy Hunter had recently been in development at Universal, where John Woo and Paul W.S. Anderson were attached to direct at various points and Dwayne Johnson attached to star. Scribes including Michael Brandt, Derek Haas, Zak Penn and Stuart Beattie had all worked on Spy Hunter scripts.
No production date has been set.