Jim Carrey and Jeff Daniels are set to reprise their roles from the 1994 comedy, with Bobby and Peter Farrelly returning to direct the pic.
Red Granite will produce, finance and distribute Dumb and Dumber To. Universal has acquired the film's domestic distribution rights.
The film is set to begin shooting this summer with a tentative release date summer 2014, which marks the 20th anniversary of the original release.
EVP of production Jon Mone will oversee the project for Universal.
The most recent drafts of the script were written by "Horrible Bosses" scribes by John Morris and Sean Anders. The Farrelly brothers will produce alongside Joey McFarland for Red Granite Pictures.
Turner, who is repped by DBA and Parseghian Planco, was most recently seen in "The Perfect Family."
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