ITV Studios, Pukeko Pictures and Weta Workshop are teaming to co-produce "Thunderbirds Are Go!".
The series is an update of Gerry Anderson's classic 1960s supermarionation kids series which became an international sensation.
The series followed the adventures of International Rescue, a secretive organisation created to help those in grave danger using advanced equipment and machinery launched from its hidden Tracy Island base.
The group is run by ex-astronaut Jeff Tracy, his five sons. Their London agent Lady Penelope also made frequent appearances.
The property was adapted for film in 2004 and inspired "South Park" creators Matt Stone and Trey Parker’s "Team America: World Police".
The new show will blend CGI animation and live-action model sets. Twenty-six half hour episodes have been ordered for air on ITV and CITV in the UK to air in 2015.