Landis, who directed the 14-minute video, battled Jackson's executors over money he was allegedly owed for his work on the iconic film, but both parties reached a confidential settlement in 2012.
Now the legal fight is over, Landis plans to revamp the 1983 short and re-release it 2015. He is in talks to show it in cinemas and release it on Dvd.
Landis tells the New York Daily News, "That lawsuit went on for so many years, (but) we settled and they paid me finally... And so, actually there is something happening with Thriller.
"It is going to reappear in a highly polished and three-dimensional way that is very exciting on the big screen... I cannot tell you any more... I might have to kill you."
Paperwork obtained from the Jackson estate shows many other projects are in development including Internet games, a film, a documentary and a Broadway play about the singer's life.
Jackson died in 2009, aged 50.