• Director Jon Favreau is working on the live-action/CG reboot of the beloved animated film "The Lion King."

Director Jon Favreau is working on the live-action/CG reboot of the beloved animated film "The Lion King." (Photo : YouTube/The Lion King)

Disney's animated classic "The Lion King" is the latest film to get its own remake. The live-action/CGI re-imagination will be a collaboration between "The Jungle Book" director Jon Favreau and Disney.

In a statement released on Sept. 28, Wednesday, Disney confirmed that the "Lion King" remake has been fast-tracked to production. However, before Disney made the news official, Favreau pretty much revealed the upcoming project via Twitter. "Excited about my next project," the filmmaker wrote on the micro-blogging platform along with a lion and crown emoji.

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Details about the film's cast or release date have not yet been revealed, but two untitled live-action films inspired by "recognizable source material" showed up on Disney's calendar in April with the following dates: Aug. 3, 2018 and Dec. 25, 2018, according to Entertainment Weekly.

Disney also revealed that the upcoming re-telling of the 1994 animated blockbuster will include songs from the original movie. The original film's "Can You Feel the Love Tonight," composed by Elton John with lyrics by Tim Rice, won the Academy Award for Best Original Song.

The film's original soundtrack sold more than 14 million copies. The Disney classic also bagged two Grammy Awards and a Broadway adaptation of the movie made its debut in 1997, winning six Tony Awards till date.

The original, directed by Roger Allers and Rob Minkoff, held the title of highest-grossing animated film for 16 years until "Toy Story 3" came along. More than two decades after its release, the film, which was re-released in 3D in 2011, has a worldwide box office gross of $968.8 million.

This is not the first time Favreau and Disney are teaming up. The live-action film "Jungle Book" was also a result of their collaboration and enjoyed box office success with a global collection of $965.8 million.

Disney and Favreau are joining forces again for a "Jungle Book" sequel, according to the studio. However, the release date for the same is not yet known.

"The Lion King" reboot will join a long list of Disney films that have received the remake treatment including "Maleficent," "Cinderella," and the upcoming "Beauty and the Beast," starring Emma Watson. Watch the film's teaser trailer below: