The reboot is said to be in pre-production already and an official announcement is expected later this month, claims Woman's Day.
The news will stun fans who last year were told by actress Magda Szubanski, who played Sharon Strzelecki, that a reboot was off the table.
"I think it should be off the table... It holds such a special place in people's memories," she told The Kyle and Jackie O Show.
"If we did a live show, which was a 'best of' or something like that, that's different.
"But to actually try and do a whole new series, I think you can never capture that magic again."
The sitcom tells the story of a dysfunctional mother and daughter, Kath and Kim, as they navigate life and love in the suburbs of Melbourne.