The reclusive singer will work with the Nederland Organization to develop the New York theater production, based on the iconic 14-minute horror-themed video – which sees a young couple go on a date only for the boy to transform into a werewolf - that accompanies the famous song.
The Nederland Organization said: "This musical will be the exclusive Michael Jackson authorized version of 'Thriller' and Jackson will participate in every aspect of the creative process."
James Nederland, who owns nine Broadway theaters and has acquired the rights to the show, is delighted to be working with the 50-year-old singer.
He said: "I love the idea of making 'Thriller' a musical. Girl meets boy, they fall in love, boy has big secret, now what?"
Michael's spokesman Tohme Tohme has also confirmed the plans, saying: "The Nederlands and Michael Jackson represent live theater and musical excellence, so let the music begin."
The show will include songs from Michael's "Thriller" and "Off the Wall" albums. The writer, choreographer and director of the musical are yet to be announced.
"Thriller - Live," a musical about Michael's career has been playing in the UK since 2006.
