Alcon Entertainment has been developing a reworked version of Kathryn Bigelow's 1991 action thriller for the past two years, and has now appointed Core, whose last directing credit was 2006 football biopic Invincible.
Alcon producer Andrew Kosove has previously explained to The Playlist that their version will not be a literal remake of the first film, which starred Keanu Reeves as an FBI agent who goes undercover in a gang of criminal surfers.
Patrick Swayze co-starred as the gang's charismatic leader Bodhi.
Reeves has credited his role in Point Break with making him a star.
Scripted by Kurt Wimmer (Total Recall, Salt), the remake will be set in the world of international extreme sports, and will again centre on an undercover FBI agent infiltrating a criminal ring.
Watch a trailer for Point Break below: