The new 10-part series will air on ITV and recording will begin next month at Epic Studios in Norwich.
The original show made stars of wrestlers Big Daddy, Giant Haystacks and Mick McManus in the 1980s.
An ITV spokesman said the series would feature "the UK's biggest and best pro-wrestlers".
WOS Wrestling was scheduled to return to Saturday afternoons in 2017 but was halted over contractual issues.
Jeff Jarrett, co-founder of Impact Wrestling and a former star of WWE wrestling, told BBC Radio 4's World at One at the time that wrestling was "Shakespeare to the masses". He said the UK enjoys "an enormous independent wrestling scene".
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