The helmer has teamed up with Miramax and GK Films to develop the TV adaptation which will draw from the events in described in the Leonardo DiCaprio, Daniel Day-Lewis and Cameron Diaz starrer movie.
The story will take place in New York and other cities including Chicago as the show explore's the birth of organized crime in America at the turn of the 20th century, the Hollywood Reporter said.
"This time and era of America's history and heritage is rich with characters and stories that we could not fully explore in a two-hour film. A television series allows us the time and creative freedom to bring this colorful world, and all the implications it had and still does on our society, to life," Scorsese said.
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