Stentz and Miller would also serve as the executive producers of the television project based on James Cameron-created franchise, said the Hollywood Reporter.
The new series will follow a critical moment from the original 1984 Terminator movie, but will take it in a completely different direction. Other details are still kept under wraps.
The sci-fi film franchise, starring Arnold Schwarzenegger as the title character, was earlier made into a TV series by the name of Terminator: The Sarah Connor Chronicles, which aired in 2008-2009.
Lena Headey and Thomas Dekker featured as Sarah and John Connor respectively.