The 26 year-old actress will re-team with director Alan Taylor, with whom she worked on the fantasy TV series, reported Deadline.
Casting for the role came down to two people, Emilia and Brie Larson, with each of them taking part in readings for producers at Skydance, Annapurna, and Paramount.
Clarke's big break came when she was cast as a dragon-commanding heroine called 'Daenerys Targaryen', the shy sister of her King big brother quickly transforms into one of the show's most daunting characters.
Also set to join the new cast is Jason Clarke, known for 'Zero Dark Thirty' and 'Lawless'. The Australian actor is reportedly in talks to play her son John Connor.
Arnold Schwarzenegger, who appeared in the first instalment back in 1984, is set to reprise his iconic role as a T-800 cyborg from the future whose purpose is to protect the safety of John Connor.
The fifth instalment will be titled 'Terminator: Genesis' and is slated for a release on July 1 2015.
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