"Blackhawk" was first introduced in 1941 by Quality Comics before DC acquired the property in 1957. The series followed a man named Blackhawk who led an international group of pilots known as the Blackhawk Squadron during World War II.
Spielberg last collaborated with Warner Bros. on "Ready Player One" which has grossed over $476 million worldwide since hitting theaters in March.
"It was wonderful working with the team at Warner Bros. to bring "Ready Player One" to the screen," Spielberg said in a statement.
"They bring a blend of passion and professionalism to everything they do and have a tremendous history in this genre. I am excited to reunite with them on Blackhawk.
Spielberg is next set to helm a fifth Indiana Jones film followed by a remake of musical "West Side Story."
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