Ralph Macchio to star in new 'Karate Kid' series, 'Cobra Kai'

— -- Get ready to "wax on, wax off" again -- the "Karate Kid" is coming back!

Ralph Macchio will reprise his role as Daniel LaRusso in "Cobra Kai," a series coming to YouTube Red, ABC News has confirmed.

According to an official press release from YouTube, the series will take place 30 years after the events of the All Valley Karate Tournament. Also returning from the 1984 movie is William Zabka, aka Cobra Kai bully Johnny Lawrence.

Lawrence is the character Daniel defeated in the film's climactic karate tournament.

"A down-and-out Johnny Lawrence (Zabka) seeks redemption by reopening the infamous Cobra Kai karate dojo, reigniting his rivalry with a now successful Daniel LaRusso (Macchio), who has been struggling to maintain balance in his life without the guidance of his mentor, Mr. Miyagi," the release said.

It continues, "The show is about two men addressing past demons and present frustrations the only way they know how: through karate."

Josh Heald, Jon Hurwitz and Hayden Schlossberg will write the series. Heald is the man behind hits like "Hot Tub Time Machine," while Hurwitz and Schlossberg are known for "Harold & Kumar."

“The minute I heard about this project, I knew we had to have it," said Susanne Daniels, global head of original content at YouTube.

Pat Morita, who played Kensuke Miyagi in the first four movies, died in 2005.

"Cobra Kai" is slated to debut next year.

The Hollywood Reporter was the first to report the news.