John Shaft is returning to the bigscreen, with New Line developing a reboot of the iconic police action franchise.

The latest version of “Shaft” has been set up with producer John Davis.

New Line has acquired the remake rights to MGM’s 1971 blaxploitation film, based on Ernest Tidyman’s novel and directed by Gordon Parks. John Shaft was portrayed by Richard Roundtree, who navigates mob neighborhoods in New York City to find the missing daughter of a mobster.

The film was a major success with box office of $13 million on a budget of $500,000. Isaac Hayes’ “Theme from Shaft” won the Academy Award for original song. Parks and Roundtree also teamed on “Shaft’s Big Score” in 1972 and “Shaft in Africa” in 1973.

“Shaft” was selected for preservation in the U.S. National Film Registry by the Library of Congress in 2000.

John Singleton directed Paramount’s 2000 reboot, starring Samuel L. Jackson as the nephew of John Shaft. That version was also successful, with $108 million in worldwide grosses.

Davis is a producer on Warner Bros.’ upcoming “The Man From U.N.C.L.E.,” starring Henry Cavill and Armie Hammer, and Sony’s “Joy,” starring Jennifer Lawrence.

The news was first reported by the Wrap.