Nicolas Cage and Cameron Diaz are also in talks to star in the movie, Columbia Pictures spokesman Steve Elzer said.
Chow had originally signed on to direct the film and play Kato — the sidekick character portrayed by Bruce Lee in the 1960s series — but quit both duties over the past year, saying he wanted to focus on developing a superhero movie with Jack Black.
French filmmaker Gondry has signed on to replace Chow as director, Elzer confirmed in an e-mail to The Associated Press.
Cage is in talks to play a gangster villain and Diaz a reporter, the Hollywood trade publication Variety reported on Monday.
The original "Green Hornet" series, which debuted on radio in 1936, is about a newspaper publisher who moonlights as a masked crime-fighter along with his martial arts-expert sidekick. In 1966, it was turned into an ABC television series starring Van Williams as the title character. It ran for one season.
Canadian actor Seth Rogen will play the Green Hornet in the Columbia Pictures version.
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