Dan Mazer is on board to direct the film from a script by Mikey Day and Streeter Seidell.
Variety reports Yates will not be playing Kevin McCallister (originally played by Macauley Culkin), but a new character in a similar premise to the original franchise.
The roles for Kemper and Delaney have not been announced.
The movie will be produced by Hutch Parker and Dan Wilson, and marks the first project to be produced by Twentieth Century Fox for Disney Plus.
There’s no timetable for the project at this time.