The project is based on a script by Elizabeth Martin and Lauren Hynek focused on the Chinese warrior character Hua Mulan. The project has been set up with Chris Bender and J.C. Spink.
The original "Mulan," directed by Tony Bancroft and Barry Cook, centered on the title character disguising herself as a man to take her father's place in the army with her dragon friend Mushu. "Mulan" grossed over $300 million worldwide.
Disney's seen an impressive run with its live-action versions of animated films starting in 2010 with "Alice in Wonderland," followed by last year's "Maleficent" and this year's "Cinderella," which has topped $336 million worldwide in three weeks. It's developing a live-action version of "Beauty and the Beast" starring Emma Watson with a release already set for March 17, 2017.
Disney is also releasing a live-action version of 1967's "The Jungle Book" next year along with the sequel to "Alice in Wonderland."
Bender and Spink have specialized in producing comedies for New Line such as "We're the Millers" and "Horrible Bosses 2."
The Hollywood Reporter first reported the news.