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The studio made the announcement this morning.
Tatum will also join his Hill as an executive producer on the project, which will be directed by Phil Lord and Christopher Miller. Hill wrote the treatment with Michael Bacall, who wrote the screenplay.
Neal H. Moritz will produce the film with Stephen J. Cannell, who will receive posthumous credit.
Jump Street was a hit show in the early days of Fox Broadcasting and featured a group of young-looking cops who infiltrated high schools as students in order to stop crime.
While the characters Tatum and Hill are playing will be brand new, the TV series did feature a good-looking cop in the form of a young Johnny Depp and an overweight one in the form of Peter DeLuise.
Hannah Minghella and Jonathan Kadin are overseeing production for the film on behalf of the studio.
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