The digital form of the singer will be created by The Digital Domain Media Group. The same company has made the much talked about Tupac Shakur hologram, reports BBC news.
"This is a new and exciting way to bring the magic and music of Elvis to life. His lifelong fans will be thrilled all over again and new audiences will discover the electric experience of Elvis the performer," said Elvis Presley Enterprises in a statement.
Presley died in 1977 at the age of 42. Though the details of the forthcoming digital performances are unclear, it's likely that his fans will hear him sing hits such as "Heartbreak hotel", "All shook up" and "Jailhouse rock"once again.