Sylvester Stallone is set to star in and produce a remake of one of the great Nineties films for Amazon Studios, his 1993 blockbuster hit, Cliffhanger.

The 76-year-old action hero will reprise his role as mountain climber Gabe Walker 30 years after the original theatrical release.

The story follows Gabe as he rescues multiple stranded hikers before realizing they are a group of violent criminals who have crashed their plane in a heist gone wrong.

The film – nominated for three Oscars for visual effects – saw Stallone take down a band of armed robbers led by John Lithgow in a deadly mountain heist.

It went on to make $255m at the international box office.

Remake: Sylvester Stallone is set to star in and produce a remake of his 1993 blockbuster hit Cliffhanger

Epic adventure: The 76-year-old action hero will reprise his role as mountain climber Gabe Walker as he rescues multiple stranded hikers before realizing they are a group of violent criminals who have crashed their plane in a heist gone wrong

This comes two weeks after Stallone and his company Balboa Productions signed a deal for Sylvester to write, direct, produce, and star in film and television projects for Amazon Studios.

The projects will stream on Prime following a likely theatrical release.

Stallone’s latest superhero film Samaritan also premiered on Prime Video.

The head of Amazon and MGM Studios, Jennifer Salke, commented on their new partnership two weeks ago saying, ‘Sylvester Stallone is an undeniable Hollywood legend who has created some of the most timeless and iconic characters of our generation.

‘As an actor, writer, director, and producer, he has defined his own epic brand of storytelling and inspired people all over the world. We are excited to continue our relationship with Sylvester and Balboa Productions to bring even more of his exciting creative vision to our global audiences.’

The father-of-three and Balboa Productions have also delivered multiple projects through Paramount+, including Tulsa King in November.

Stallone’s performance as New York Mafia tough guy ‘The General’ scored one of the biggest cable debuts of 2022 and has been renewed for a second season.

His next release, the Family Stallone, will premiere on Paramount+ in the US on May 17 and in the UK on May 18.

In the trailer for the new family drama, the Hollywood icon opens with his signature Rocky punches while a voiceover states: ‘He’s one of the world’s biggest stars, now, see him like never before… as a family man.’

High stakes: Stallone shot the original film in the mountains of northern Italy

One of his best: The original film was nominated for three Oscars for visual effects

Mountain man: The original plot saw Stallone take down a band of armed robbers in a deadly mountain heist

Kitsch classic: Cliffhanger, which went on to make $255m at the global box-office

Wow: Stallone’s ‘nepo baby’ daughters made their reality show debut in the action-packed first trailer for upcoming reality show, The Family Stallone , this week (pictured Stallone with L-R Sophia, 26, Sistine, 24, wife Jennifer Flavin, 54, and Scarlet, 20)

‘At our peak!’ ‘Risk Taker’ Sistine declares: ‘We’re in our early 20s, it’s doesn’t get much better than this. ‘Brain wise, body wise, looks wise, we’re at our peak ladies!’

Candid: Sophia, branded ‘The Heart’ waxes lyrical about dating in the public eye, saying: ‘Being the oldest, I’ve always had this pressure of being perfect. Dating with the last name I have is incredibly hard’

Goals: Scarlet, ‘The Scene Stealer’ hopes to follow her father into the acting world, and has already starred in dad Sly’s hit drama, Tulsa King’

Family first: The Family Stallone will premiere on Paramount+ in the US on May 17 and in the UK on May 18 (The Stallones are pictured in 2019)

Throwback: The movie star and his wife of 25 years are pictured in New York, 1997

The show stars wife Jennifer Flavin, and daughters – Sophia, 26, Sistine, 24, and Scarlet, 20 – with the trio declaring: ‘Being a Stallone, it holds a lot of weight.’

The Rambo star will also release the latest installment of his massive hit franchise, The Expendables, through Lionsgate in August.

Balboa Productions is also finishing post-production on a survival story based on the real account of a young man who survived a harrowing expedition through the Katahdin Mountains called Lost On a Mountain In Maine.

Stallone will also appear in the upcoming Guardians of the Galaxy Vol. 3, which hits theaters next week on May 5th, as he reprises his role as Ravager Captain Stakar Ogordwhich.