The film will feature the actor as the voice of the titular character and follow the heartfelt story initially portrayed in the fabled animated production released in 1968. The production will also incorporate CGI (computer generated imagery).
Jon Berg and Greg Silverman, who helped develop "Aquaman", will produce alongside Momoa.
"From his role as a fearsome count in a land of ice and fire to the oceanic success we all had with 'Aquaman', it felt only right to realize Jason this time out of snow," Berg said in a statement to Deadline.
Silverman added, "We know Jason's as a true human being filled with love, compassion and a deep connection to ohana (family in Hawaiian) - all of which is the living spirit of Xmas and Frosty (sic)."