"A television series allows us the time and creative freedom to bring this colourful world to life. I am excited to partner with Miramax in telling these stories."
The series will draw on events surrounding gangs not only in New York but in other cities such as Chicago and New Orleans, and focus on the birth of organised crime in the US.
Miramax chairman Richard Nanula praised Scorsese's film-making skills: "His dedication to quality and the art of storytelling continues to excite everyone that works with him and watches his films and television programmes."
Gangs of New York grossed US$77.8 million ($93 million) in the United States and another US$116 million worldwide.
But despite being nominated in 10 categories, it won no Academy Awards.
Meanwhile, New York's Tribeca Film Festival will close with a 30th anniversary restoration of Scorsese's The King of Comedy.
This year's festival will bow out on April 27 with the film, starring one of its founders, Robert De Niro.
In the 1983 dark comedy, he stars as aspiring comedian Rupert Pupkin, whose obsessive celebrity hounding leads to kidnapping.
Tribeca co-founder Jane Rosenthal said it had always been a goal of Scorsese's to use the festival, with which he's closely associated, to showcase restored and rediscovered films.
The 12th annual Tribeca Film Festival opens on April 17.
-AAP