The ride will be named after DC Comics superhero Green Lantern.
Officials say the ride will be 154 feet tall and reach speeds of up to 63 mph. The coaster will offer a 2 minute ride and will begin with a 45-degree vertical drop before rocketing riders through five loops.
Park spokeswoman Angel Aristone tells the Asbury Park Press the coaster's opening in the spring will coincide with the release of a motion picture based on the Green Lantern comic book character.
Information from: Asbury Park Press