Lemony Snicket's "A Series of Unfortunate Events" is to be adapted into a 13-part television series.
The series of books follow a trio of orphaned siblings - Violet, Klaus and Sunny Baudelaire - whose adventures are narrated by Snicket.
Netflix's Cindy Holland called it "the first stop for generations of readers".
The 13 books were adapted into a 2004 film starring Jim Carrey, Meryl Streep and Jude Law, which took $200 million (£125m) at the box office.
Paramount, the studio behind the film, will produce the TV series in association with online streaming service Netflix.
Its recent successes include House of Cards and Orange is the New Black.
"I can't believe it," said Daniel Handler, who writes under the pseudonym Lemony Snicket. "After years of providing top-quality entertainment on demand, Netflix is risking its reputation and its success by associating itself with my dismaying and upsetting books."
More than 65 million copies have been sold in the series - which was written between 1999 and 2006 - with the series translated into more than 43 languages.
"On the search for fantastic material that appeals to both parents and kids, the first stop for generations of readers is A Series of Unfortunate Events," said Holland.
"The world created by Lemony Snicket is unique, darkly funny, and relatable. We can't wait to bring it to life for Netflix members."
Last year, Netflix announced it would buy four new live-action TV series from comic book firm Marvel, with the first of the series - Daredevil - due to to premiere in the US over the next couple of months.
The subscription service will release its first feature-length film next year. The sequel to Ang Lee's Oscar-winning martial arts drama Crouching Tiger, Hidden Dragon will be shown on Netflix and in Imax cinemas in August 2015.
