The show titled 'Ashecliffe' will be aired on HBO and will be set in an isolated mental hospital, before the events of the movie, said The Hollywood Reporter.
The drama would 'explore the hospital's past and misdeeds by its founders'.
Dennis Lehane, the author of the book on which the movie was based on, will pen the script alongside Tom Bernardo, while a whole string of executive producers include DiCaprio, Brad Fischer and Rick Yorn.
Set in the 1950s, 'Shutter Island' followed US Marshall Teddy Daniels who investigates the disappearance of a resident at Ashecliffe hospital, an institution for the criminally insane.
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