Reprising his role from 1993, Stallone will take on the character of Gabe Walker once more in a reboot of the mountain climbing action thriller (via The Wrap).
Not only will Stallone be starring in the reboot, the actor is set to produce the film which will be directed by Ric Roman Waugh, who is taking over directing duties from Renny Harlin.
In the original Cliffhanger, Stallone starred as Colorado Rockies ranger Walker, who, following a failed rescue attempt which resulted in the death of one of his friends, is wracked with guilt.
Suffering from trauma following the deadly accident, Walker is tricked into helping a team of criminals to locate the money they stole during the heist of a U.S. Treasury plane.
Speaking of the upcoming movie, director Waugh, whose own stunt person credentials include movies such as Hard Target and Lethal Weapon 2, said that the reboot would be set in the Italian Alps.
"Growing up with the biggest action films of the 80s and 90s, working on many of them myself, Cliffhanger was by far one of my favourite spectacles," said Waugh. "To be at the helm of the next chapter, scaling the Italian Alps with the legend himself, Sylvester Stallone, is a dream come true. It's going to be a great challenge and blast taking this franchise to new heights, a responsibility I don't take lightly."
"After playing some of the most legendary characters in cinematic history, three-time Academy Award nominee Sylvester Stallone is ready to give cameras access to what he would consider the greatest role of his lifetime: dad," the description reads.
Cliffhanger is yet to receive a release window.
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