The game - which is known as Fatal Frame outside of Europe - is listed among upcoming PlayStation 3 releases on Chinese video game website TGBus.
According to The Silent Chief, the listings confirm earlier reports that series producer Keisuke Kikuchi was working on a new, unannounced title.
Project Zero was first released for the PlayStation 2 and Xbox almost ten years ago.
The game - which came in at five in Digital Spy's Top Ten Scariest Games list - sees players enter a haunted house armed with a camera that has the ability to capture spirits.
A Wii exclusive developed by Grasshopper Manufacture and Tecmo was released in Japan in 2008. A remake of Project Zero 2 is also thought to be in development for Nintendo's console.
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