Deadline said the eight-episode, limited series would show where Roseanne Barr's iron-willed matriarch and her blue-collar family are more than two decades after the series ended.
Bruce Helford and Whitney Cummings would be the showrunners.
The project is being shopped to broadcast and streaming networks, The Hollywood Reporter said.
Set in Illinois, Roseanne initially ran 1988-97. If it does come back it will be on the heels of other revivals of long canceled shows such as Arrested Development, Full House, Boy Meets World, Gilmore Girls and Twin Peaks. There are plans to produce new episodes of That's So Raven and Will & Grace, which also wrapped years ago.