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The 2009 film - starring Matthew Perry and Efron as the adult and teen incarnations of main character Mike O'Donnell - dropped on the streaming service on New Year's Day.
The story follows Mike, his wife Scarlet and their two teenage children, Maggie and Alex.
After missing out on a basketball scholarship as a teenager when his girlfriend Scarlet announced she was pregnant, a now adult Mike is in the process of getting a divorce.
Not only that but Maggie and Alex don't want anything to do with him, so it's fair to say Mike is stuck.
However, after an encounter with a janitor on a bridge transforms a 37-year-old Mike into his 17-year-old self, he then goes back to his old high school (which his teenage daughter and son both attend) to make up with his kids and try to fix his relationship with his wife.
Cue lots of awkward encounters, some near misses and many attempts to reconcile with his family, before Mike transforms back into the adult version of himself.
"In one extraordinary moment," the trailer teases, "he'll get to turn back the clock and be 17 all over again."
"This is my chance to have my life over," Efron's Mike says in the clip, "but to do it right."
Efron first shot to fame in 2006's High School Musical, but the actor will soon star in new survival thriller Gold, about two strangers who discover the biggest gold nugget ever found while travelling through a desert.
As well as starring in Friends, Matthew Perry is also known for his roles in The Whole Nine Yards (2000) and 1997's Fools Rush In.
Meanwhile, 17 Again also stars Leslie Mann as Scarlet, Michelle Trachtenberg as Maggie and Sterling Knight as Alex and this is one film we can't wait to watch again.
17 Again is available to stream on Netflix from 1st January.
Featured Image Credit: Warner Bros
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