Bosses at streaming service Netflix have picked up the project, which will follow the exploits of Brooklyn, New York artist Nola Darling as she juggles her multiple relationships, reported Deadline.
The first season will feature 10 episodes, which will all be directed by Lee.
He will also serve as an executive producer alongside his wife, Tonya Lewis Lee, on the series, which was originally in development at US network Showtime in 2014.
"We are getting an opportunity to revisit these memorable characters who will still be relevant and avant garde three decades later," Lee said.
The original film featured Tracy Camilla Johns as Nola Darling, Tommy Redmond Hicks, John Terrell, and Lee himself as Mars Blackmon.
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