Hernandez is set to star in the pilot for the CBS crime drama as Thomas Magnum, a highly decorated ex-Navy SEAL who decides to put his military training and experience to good use by opening up a private detective agency upon returning home from Afghanistan.
Tom Selleck, who currently stars in the CBS police drama Blue Bloods, famously starred as the eponymous private eye in the original series, which aired from 1980 to 1988.
Hernandez most recently starred in director David Ayer's Suicide Squad -- playing the pyrokinetic antihero El Diablo -- as well as Bright, Ayer's supernatural action thriller produced by Netflix. Some of his other film credits include Bad Moms and its sequel, A Bad Moms Christmas, as well as the 2005 horror flick Hostel.
Peter Lenkov, the writer and producer responsible for bringing the iconic TV classics Hawaii Five-O and MacGuyver back to TV, is set to serve as executive producer on this new reboot.
With the announcement of this latest revival, fans have a few important questions: Will the new iteration still take place in Hawaii? What kind of rad muscle car will this latest Magnum drive? Will Hernandez rock the character's iconic mustache? Only time will tell how close this revival sticks to the beloved original series.
Back in 2015, when rumors of a Magnum P.I. reboot began to first circulate, Selleck sat down with ET and weighed in on how he'd feel about the show returning to TV. Check out the video below to hear what the 73-year-old star had to say.