The body of Lorraine McCausland, a mother-of-two, was found beside a stream in Forthriver on 8 March 1987.
The 23-year-old had been for a night out and was last seen in a loyalist club at Tyndale.
Police believe she was raped in the club before she was "savagely beaten" and her body dumped.
Det Insp Michelle Griffin said: "The investigation is being re-opened because, having reviewed the case, police believe there are potential new lines of enquiry.
Family hopeful police will secure convictions
"This was a merciless beating of a vulnerable young woman. It has had a profound effect on her family.
"It would also have had a lasting impact on the people who witnessed these events 29 years ago.
"The people involved in this attack are still at large."
Police said they would be distributing leaflets in the area to highlight the reinvestigation and appealed for people to come forward with information.
"I am appealing to anyone who was in the club on the night of Saturday 7 and the early hours of Sunday 8 March 1987.
"It's a long time ago but I'm sure everyone who was there still carries those memories. They will probably never leave them."
Det Insp Griffin said Lorraine was a "popular member" of the local community.
"She had worked as a stitcher and then in her sister's mobile shop," she said.
"Everybody in the area knew Lorraine and liked her for her personality and kindness."
The officer said some people had been "reluctant to assist" the police investigation.
"The shadow of loyalist paramilitarism hangs over this case. I believe people have been reluctant to tell the truth about that night, what they saw and heard, what they know, because they are frightened.
"I understand their fear but I believe there are ways of dealing with this and providing a mechanism to enable people to come forward and tell us what they know about the events of that night so that we can get justice for Lorraine and her family."
Police said 14 people were arrested during the original investigation but no-one was charged.
Detectives conducted 29 searches and took more than 100 witness statements.
Lorraine McCausland's son, who was aged just two, when she was killed, was murdered 18 years later in July 2005.
Craig McCausland died after being shot in Dhu Varren Park in north Belfast and the killing was blamed on tensions within loyalism by police.

14 June 2016 Last updated at 08:14 BST
The first is a slimmer version of its Xbox One console, the Xbox One S, which will launch in August.
The second is Project Scorpio, which will offer virtual reality and 4K gaming, and will be released by Christmas 2017.
E3 is a huge gaming show that happens every year and it's where lots of tech companies announce their latest games and consoles.
BBC reporter Chris Foxx is at E3. He has what you need to know about the latest Xbox news...

The 3,500-seater auditorium is part of a £500m redevelopment project to transform the city centre.
Swansea council has advertised for an operator to run the facility on the former St David's shopping centre site.
Officials hope a new arena will attract touring live shows from hit programmes such as Strictly Come Dancing and X Factor.
Swansea council said survey work at the site had been carried out and an outline planning application was due to be submitted in March.
Other ideas for the former St David's complex include a café and restaurant quarter as well as a cinema.
The proposals were announced in January alongside a scheme to transform the Civic Centre site into apartments, an aquarium as well as an aquatic sciences research centre.
It is hoped the two projects would create 1,700 permanent jobs in the future.

Zoo staff are helping the rare sea turtle to recovery after it got a little bit lost last year.
Menai is an Olive Ridley turtle, which are usually found in much warmer waters around Mexico.
It's thought that Menai was knocked off course for thousands of miles by strong currents.
Vets are giving her lots of checks to make sure she is healthy and they say she is recovering well.
Police have re-opened an investigation into the murder of a woman in north Belfast almost 30 years ago.
[NEXT_CONCEPT]
Microsoft has announced two new Xbox consoles at the E3 gaming show in Los Angeles, America.
[NEXT_CONCEPT]
A planned indoor arena for Swansea has come a step closer as council bosses begin looking for a firm to run it.
[NEXT_CONCEPT]
Menai the turtle was found washed up on a beach in Wales in November, and was rescued by wildlife experts in Anglesey.