The UK series, which originally aired from 2005 to 2016, was hosted by Noel Edmonds.
In the show, contestants had to choose from a selection of 22 boxes, each of which contain different cash amounts ranging from 1p to £250,000.
“The Banker” then offers them cash in exchange for what’s in their sealed box, with the offer fluctuating as the additional boxes are opened one by one.
ITV is said to have commissioned a reboot of the series, which originally aired on Channel 4.
Edmonds, however, will not feature in this new iteration. Instead, Britain’s Got More Talent presenter Stephen Mulhern will reportedly be assuming the role of host.
The 45-year-old TV personality is also a presenter on Ant and Dec’s Saturday Night Takeaway for the same channel, as well as game shows In For a Penny and Catchphrase.
According to a report by The Mirror, ITV comissioned 20 episodes of Deal or No Deal after Mulhern impressed them over two pilots.
The Independent has contacted ITV for comment.
Last year, Meghan Markle stirred up controversy when she suggested she was “reduced to a bimbo” during her early career stint on Deal or No Deal.
The duchess of Sussex appeared as a “briefcase girl” on the US version of the series – one of the women who hold up the boxes.
Speaking on the Spotify podcast Archetypes, Meghan said that, while she was “surrounded by smart women” on the show, their presence was “solely about our beauty”.
“I was thankful for the job but not for how it made me feel, which was not smart,” she said.