The "Thor: Ragnarok" filmmaker has signed on to write and direct the project for Fox/Disney bosses, according to Deadline.
The news emerges four years after Matthew Vaughn was first tapped to take charge of the remake, only to step down last year (2018) to focus on his "Kingsman" franchise.
He remained attached as a producer as director Julius Avery was brought on board in October, but now studio officials have turned to Waititi to recreate the superhero story in animated form. It's unclear if Vaughn is still involved.
"Flash Gordon" is based on the 1934 comic strip about an adventurer who battles a tyrannical ruler on the planet Mongo. The character has appeared in various movies and TV series, portrayed by the likes of Buster Crabbe and Sam J. Jones.