According to The Hollywood Reporter, the 39-year-old funnyman is teaming up with bosses at Paramount Pictures to develop the new movie as a new comedy vehicle. He will also produce via his Hartbeat Productions firm.
Hart and his fellow producers have already reportedly begun searching for a writer to pen the reboot.
"Scrooged" was itself a modern retelling of Charles Dickens' iconic festive story "A Christmas Carol", and starred Murray as Frank Cross, a selfish television executive who sees the season of goodwill only as a cash cow, before he is visited by a series of ghosts.
The film, which also starred Karen Allen, Bobcat Goldthwait, and Robert Mitchum, was only a moderate hit but has since become a cult Christmas favourite, and news of plans for a remake did not go down well with fans on social media.
"Why do they think that "Scrooged" needs to be remade? Kevin Hart will ruin it!!" one fan of the original wrote on Twitter, while another added: "Don't mind Kevin Hart but he can f**k off if he thinks he's remaking Scrooged. T*t."