Alcon Entertainment is developing a live-action/animated adaptation of the 1970’s Hanna-Barbera cartoon Hong Kong Phooey, and Mr. Eddie Murphy has been tapped to voice the lead character. If you’re unfamiliar with the series, it centered on a dog named Penry who is granted the ability to walk, talk and do kung fu after stumbling into a mystic ceremony that grants him powers. Penry works as a janitor at a police station by day, but patrols the streets at night as Hong Kong Phooey in his “Phooeymobile” with the ever-handy “Hong Kong Book of Kung Fu” manual at his side.

Say what you will about Murphy’s career as of late, but he always delivers great voice work. His fast-talking Donkey was one of the highlights of the Shrek series, and he was memorable as the dragon Mushu in Disney’s Mulan. Alex Zamm (Tooth Fairy 2) is directing Phooey, which presumably will feature an animated title character interacting with live-action actors. Family Guy executive producer David Goodman wrote the script, and Alcon co-founders and co-CEO’s Broderick Johnson and Andrew Kosove will produce alongside Jay Stern and Brett Ratner. Hit the jump to read the full press release.

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Here's the press release:

LOS ANGELES, CA, AUGUST 10, 2011—Eddie Murphy will give voice to the animated lead character in Alcon Entertainment’s live action/animated big screen adaptation of the of the 1970s Hanna-Barbera animated TV series HONG KONG PHOOEY, it was announced by Alcon co-founders and co-CEO’s Broderick Johnson and Andrew Kosove.

In addition to voicing the character of Donkey in the box-office hit “Shrek” franchise, Murphy was also the voice of Mushu, the Dragon, in the successful animated epic “Mulan.” Murphy will next be seen in the comedies “Tower Heist,” co-starring Ben Stiller from Universal Studios and “A Thousand Words,” from DreamWorks.

Alex Zamm (“Dr. Dolittle: Million Dollar Mutts,” “Tooth Fairy 2”) will direct. Kosove and Johnson will produce with Jay Stern and Brett Ratner. Steven P. Wegner will executive produce.

State Johnson and Kosove: “We could not be happier that Eddie Murphy will star as Phooey. There is no overstating his contributions to cinema, and to such enduring stars of family entertainments such as ‘Shrek’ and ‘Dr. Doolittle.’ We look forward to watching him re-imagine yet another classic character.”

Based on the 70’s cult classic Hanna Barbera animated TV series, a mild-mannered dog named PENRY (Murphy) stumbles into a mystic ceremony and is accidentally granted mystic powers, including the ability to walk, talk, and do kung fu. Under the tutelage of his kung fu master, Penry dons a costume and becomes Hong Kong Phooey, and with the help of his trusting sidekick Spot the cat cleans up a rogues gallery of wacky criminals.

Murphy is represented by Adam Venit at WME, and Skip Brittenham and Matt Johnson at Ziffren Brittenham. Alcon’s in house counsel David Fierson negotiated on behalf of the Company.