Director Todd Phillips will team with "Old School" writing partner Scot Armstrong to script a show in which Carrey would play the bionic man.
Dimension owns the Martin Caidin novel "Cyborg" that was turned into the Lee Majors ABC drama series, and Universal owns rights to the television series.
Dimension is taking the creative lead, and Universal has the option to become co-production partner.
The proposal became a fast-tracked comedy after Carrey and his managers Jim Miller and Eric Gold had the idea to marry an exaggerated sendup of an action film to the "Six Million Dollar Man" title.
Notable deaths of 2014 [PHOTOS]