David Essex, Justin Hayward and Phil Lynott appeared on the composer's rock retelling of H. G. Wells' novel The War of the Worlds and the record went on to sell more than 15 million copies across the globe.
Now a string of stars have signed up to recreate the project, with Neeson taking on Richard Burton's role as narrator, and British singers Barlow and Stone lending their vocals.
Wayne tells the Bbc, "To revisit something that worked so well for me but in modern times I can do things that I could never have done technologically in the mid-70s when I first composed and produced it. It was a great and exciting challenge."
Barlow took to his Twitter.com page to reveal he is thrilled to be part of the project, writing, "I'm honoured to be a guest on The War of the Worlds record. I've always loved this album and I'm the biggest fan of its creator Jeff Wayne."