It was the UK's favourite streaming show and Netflix's second most popular show in the US in 2018.
Rumours of a reunion intensified after Aniston posted a photo of the cast together on Instagram in October.
HBO Max has now secured rights to the show's back catalogue for $425m (£339m).
"Guess you could call this the one where they all got back together - we are reuniting with David, Jennifer, Courteney, Matt, Lisa and Matthew for an HBO Max special that will be programmed alongside the entire Friends Library," said Kevin Reilly, chief content officer for the channel.
He said the reunion special will capture the spirit of a time when "friends - and audiences - gathered together in real time".
The cast will be involved in producing the episode.
According to Variety, each actor is expected to receive $2.5m (£1.9m) for taking part in the special, which will be available when HBO Max - a new subscription streaming service - launches.
Fans of the show reacted with glee to the announced on social media.
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