Win Rosenfeld and Audrey Chon will also serve as executive producers.
One of the smartest and funniest people in show business - best known as half of the comedy team Key & Peele - biracial actor Jordan Peele says he had "never seen a protagonist that looked and felt and thought like me in movies".
No word yet on when The Twilight Zone will premiere on CBS All Access.
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A Twilight Zone TV series reboot is on the way, but it won't be on the airwaves. The new series will be produced by CBS Television Studios in association with Jordan Peele's Monkeypaw Productions and Simon Kinberg's Genre Films.
The original "The Twilight Zone" took viewers to another dimension, a dimension not only of sight and sound but of mind.
Hopefully, CBS will at least air the Twilight Zone pilot on primetime, as they did with Discovery, giving fans a chance to sample the show before they buy in. The original series won three Emmys during its 156-episode run and explored topics including humanity's hopes, despairs, prides and prejudices. This isn't the first time that CBS has sought to reboot the series. The Hollywood Reporter noted the network's CEO, Leslie Moonves, announced on November 2 during an earnings call that CBS was preparing to take on the anthology series as part of its digital catalogue of programming for All Access.
CBS All Access is available on your mobile device, Apple TV, Roku, Chromecast, Fire TV, PS4, Xbox or Windows 10.