The six-part limited series will be a musical following the characters of narcissistic hunter Gaston (Luke Evans) and his sidekick LeFou (Josh Gad), according to The Hollywood Reporter.
Gad appears to be a major driving force behind the series, billed as its co-creator alongside Eddy Kitsis and Adam Horowitz, known for their work on the fairytale drama Once Upon A Time.
Composer Alan Menken, who co-wrote the songs for both the 1991 animated film and the 2017 remake, is in talks to pen the show's musical numbers.
The untitled project will reportedly take place many years before the events of the film and expand on the universe of Beauty and the Beast.
Stars Emma Watson and Dan Stevens are not currently involved with the new series, although there is the potential for them to make small cameo appearances.
2017's Beauty and the Beast was a major hit for Disney, making more than $1.2 billion at the worldwide box office and earning a positive reception from fans.
The film made headlines prior to release when it was announced that Gad's version of Lefou would be a homosexual character, although some were disappointed by how subtly this was portrayed in the finished product.
It's possible that the prequel series could develop this aspect of his personality, although notably LGBT+ drama Love, Simon was recently moved from Disney+ to Hulu for exploring similar themes.