In the new series, performers will take part in "various, intense bouts", with one wrestler taking home the WOS Wrestling Championship belt every week, ITV said.
Tom McLennan, creative director at ITV Studios Entertainment, said: "There is a massive indie wrestling scene in the UK and a strong nostalgia for the wrestling shows of our youth.
"WOS Wrestling will combine the best of the past with incredible talent available today to make a fun, exciting and thrilling show that the whole family can enjoy."
The first matches will be recorded before a live studio audience in Norwich on 10, 11 and 12 May, it was confirmed.
Dates for airing have yet to be scheduled.