Glen A. Larson, co-creator of the television drama on which the movie is based, will also act as a producer. The project is being overseen by Sony Pictures Animation President of Production Michelle Raimo Kouyate and Senior Vice President Michael Lachance.
The film is being written by Jay Martel and Ian Roberts, who are the show-runners and executive producers for Comedy Central's hit series Key & Peele.
Manimal is about a secret agent who turns into various animals to fight crime. The original small-screen version starred Simon MacCorkindale and was canceled in its first season in 1983.
"When we approached Jimmy, Will and Adam about Manimal, they instantly saw the potential for a big, fun comedy that blends their unique comic sensibility with our studio's animation expertise. With their help, Jay and Ian then came up with a brilliantly funny story that delivers on that potential. We couldn't be more excited," Kouyate said in a statement.
"Like The Catcher in the Rye or The Sound and the Fury, Manimal has always been one of those elusive projects every producer dreams of taking to the silver screen. I know the movie will be funny and entertaining but will it be the first film to win a Pulitzer? We'll just have to see," McKay said.