The company will also handle the global distribution, merchandising, brand management and marketing of the series by Anne Wood, creator of the original Teletubbies and In the Night Garden.
The series will feature the Twirlywoos, four small, bird-like characters, and combine stop-frame animation and live-action sequences.
It is expected to air on CBeebies in 2015, followed by other regions.
DHX has also signed a global master toy deal for Twirlywoos with toymaker Golden Bear.
Twirlywoos toys are expected to launch in Britain in 2016.
DHX is a producer and distributor of child and youth-oriented programming, such Teletubbies and Degrassi. It also owns the Family Channel as well as the Disney Junior channels in English and French and Disney XD.
The company announced earlier this year that it would produce 60 new Teletubbies episodes for CBeebies.
The new episodes will feature Tinky Winky, Dipsy, Laa-Laa and Po, however they are expected to be updated with new computer-generated visual effects and scenes shot on replica models of the sets.