The producers said they planned to film three 90-minute pictures on the fictional Indian chief from the Apache tribe created by German novelist Karl May.
The films will be directed by Philipp Stoelzl, based on Jan Berger's screenplays, and produced by Christian Becker.
About 40 Croatian actors and 5,000 extras will be hired for the filming.
The first film is set to be released in 2016.
Thanks to the excellent cooperation with HAVC, we are extremely proud to be returning to film in Croatia and that after nearly 50 years, the new Winnetou is here again. The scenery is beautiful, the local crew is excellent and the people in Croatia are very friendly, said Becker of the German Rat Pack production company.
The three films will be shot on the same locations as the 1960s "Winnetou" series, in Lika, Gorski Kotar, Velebit and Istria.
The co-producers are the Mythos and Rialto Film companies. Production in Croatia will be handled by Aleks Produkcija.
The first Winnetou film dates back to 1962 and nine more followed, all starring Pierre Brice. They were co-produced by West German filmmakers and Croatia's Jadran Film company.