Guillermo del Toro directing stop-motion 'Pinocchio' musical for Netflix

Oscar-winning filmmaker Guillermo del Toro is set to direct stop-motion "Pinocchio" musical for Netflix.

According to the Hollywood Reporter, del Toro will also write and produce the classic children's tale about a puppet who wants to be a real live boy.

The film will be set in Italy during the 1930s, a particularly fraught historical moment and a time when fascism was on the rise and Benito Mussolini was consolidating control of the country.

"No art form has influenced my life and my work more than animation and no single character in history has had as deep of a personal connection to me as Pinocchio.

"In our story, Pinocchio is an innocent soul with an uncaring father who gets lost in a world he cannot comprehend. He embarks on an extraordinary journey that leaves him with a deep understanding of his father and the real world. I've wanted to make this movie for as long as I can remember," said del Toro in a statement.

Production on "Pinocchio" will begin soon.

Del Toro previously collaborated with Netflix on its Emmy award-winning television series "Trollhunters", the first installment of the DreamWorks' "Tales of Arcadia" trilogy.