Earlier, the novel had inspired a 2007 science-fiction horror of the same name directed by Frank Darabont, reported Entertainment Weekly.
Taking cues from King's book and Darabont's movie, the series is to tell an original story about a seemingly innocuous mist that seeps into a small town and plunges it into chaos, stirring up psychological frights and otherworldly creatures.
"The terror and drama in Stephen King's novella are so vast that we felt serialised television is the best place to explore them in greater depth," said Bob Weinstein, co-chairman of the Weinstein Company and Dimension Films.
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