Tinky Winky, Dipsy, Laa-Laa and Po will be embarking on new adventures for the first time since 2001 - as the BBC has ordered 60 new episodes of the much-loved show.
Fans will be happy to hear that all of the old characters will return, including the Teletubbies' pet Noo Noo.
But the Teletubbies have had to find a new home, as the original Teletubby house, set on farmland in Warwickshire, was destroyed by flooding. The new episodes will be filmed on a replica set and given a 'refreshed and contemporary look and feel' using CGI animation.
Teletubbies first hit our screens in March 1997 and the show ran for 365 episodes, before coming to an end in January 2001.
The brightly coloured characters quickly cemented their place in children's hearts - much to the annoyance of some parents, who grew tired of hearing their children echo the Teletubbies' simplified language.
"I think that now is the right time to create new episodes of this much-loved, iconic show for the current CBeebies audience," said Kay Benbow, controller of CBeebies.
"Teletubbies is an enduringly popular series with our youngest viewers, although no new episodes have been made for over 10 years.
"Early development and test shoots have persuaded me that CBeebies viewers are in for a wonderful treat."
The show was originally created by production company Ragdoll Worldwide and the rights have now been acquired by Canadian company DHX Media.
The new episodes will be made by TV firm Darrall Macqueen - the people behind Baby Jake and Topsy and Tim.
"To work on the new evolution of Teletubbies is like being handed the television crown jewels," said Maddy Darrall, executive producer at Darrall Macqueen.
"Teletubbies changed the landscape of children's television and remains a much-loved pre-school series.
"Our creative focus is on respecting the legacy and the heritage of the original and giving it a little creative scrub-up and technological sparkle to match the viewing expectations of a new generation."
It has not yet been announced when the new series will air, but repeats of the original series are currently being shown on CBeebies.
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