Get excited, Charmed fans!
A reboot of the beloved Aaron Spelling series is currently in the works at The CW, ET can confirm. But there's one big difference with the original -- the drama will be set in 1976 instead of in present day.
Jane the Virgin showrunner Jennie Snyder Urman and the CW show's writers, Jessica O'Toole and Amy Rardin, are behind the proposed reboot. The project is described as a "reimagining" of the original Charmed.
WATCH: EXCLUSIVE -- Alyssa Milano Talks Possible 'Charmed' Reunion
Alyssa Milano, who played Phoebe Halliwell on the show, addressed the news on Twitter on Thursday, writing, "#Charmed fans! There are no fans like you. You're the best of the best."
Holly Marie Combs, who played Piper Halliwell, also appeared to react to the big news, tweeting, "We wish them well."
Milano and Combs starred with Shannen Doherty on The WB's Charmed, which ran from 1998 to 2006 and lasted eight seasons. The series focused on the three sisters who battled against the forces of evil, using their witchcraft.
But Doherty's character, Prue Halliwell, was killed off the show after three seasons, the rumored reason being tensions between her and Milano. She was replaced by Rose McGowan in 2001, who played Paige Matthews, the trio's younger half-sister.
In February, Milano talked to ET about a possible Charmed reunion.
"We are all open for it!" she said. "It seems like that's going to happen any second. I just feel like with all these reunions, and we still have such a cult following, that I feel like someone's going to put that together at some point, and we're all totally on board for that!"
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Meanwhile, McGowan reached out to Doherty in September amid the Beverly Hills, 90210 actress' breast cancer battle, in an emotional public letter.
"As young women we were pitted against each other for society's pleasure," McGowan Instagrammed. "The men & brainwashed women in our business made it so we couldn't be friends, I regret that. We were cast in this weird fake reality show where we were supposed to be enemies."
"I resented it greatly," she added. "I regret not being awake enough to articulate this to you at the time. Fear was drilled into me from day one in this town & you were the barometer by which my behavior was judged. I was under a microscope, one false move and I'd be branded 'difficult' just like you. I think we all know what happens when girls here get out of line."