Konami Digital Entertainment VP of marketing Anthony Crouts describes Silent Hill: Shattered Memories as a "re-imagining of the original Silent Hill."
The game is also coming to PSP and PS2, and is due this fall.
Aside from "an interactive user interface, improved puzzle system, and a psych profile that changes the experience based on the players' gameplay choices," the Wii version of the game will use the Wii Remote as a flashlight and a "cell phone" that is used as a storytelling device, among other functions.
Series composer Akira Yamaoka is writing an all-new soundtrack for the game.
The first Silent Hill debuted on the original PlayStation in 1999, spawning five follow-ups and a critically-panned 2006 film.
The most recent Silent Hill release was 2008's Silent Hill: Homecoming, developed by external developer Double Helix Games. Previous Silent Hills were developed by Konami's Team Silent.
Konami confirmed to Edge that Climax, the studio behind 2007's Silent Hill: Origins is developing this latest iteration of the series.
Update: Added developer confirmation.