The BAFTA-winning series aired on the BBC in four seasons and a number of specials between 1992 and 2005.
"Absolutely Fabulous" tells the wacky story of fashion publicist Eddy, fashion editor Patsy and Eddy's daughter Saffron, the one sane one.
According to The Hollywood Reporter, "Saturday Night Live" veteran Christine Zander wrote the script, which was first ordered last fall.
The series location has been changed to Los Angeles, but original series star Jennifer Saunders will be around to executive produce along with Zander, Ian Moffitt of BBC Worldwide and the Tantamount team of Mitch Hurwitz, Eric Tannenbaum and Kim Tannenbaum.
FOX had an active week for pilot development, ordering the comedies "Walorsky," "The Station," "Two Dollar Beer" and "Sons of Tucson."
"Ab Fab" has been developed several times for American television, but this is the farthest along a direct remake has gotten, though many people would tell you that CBS' short-lived "High Society" was basically a remake.
FOX hasn't had much success redeveloping classic Brit-Coms in recent years. The network's pilot for "Spaced" was never sent to series, while "The Ortegas," a remake of "The Kumars at No. 42," was ordered to series but ultimately never aired.