Leto will take over the role of Lestat, played by Tom Cruise in the 1994 original Warner Brothers movie, reported Ace Showbiz.
Josh Boone ("The Fault in Our Stars") and Jill Killington have completed the screenplay based on Anna Rice's novels.
The rebooted project is rumored to be a part of "The Vampire Chronicles" universe developed by Universal.
"Lestat - there can be only one. #JaredLeto," Boone recently wrote on Twitter.
Rice's son, Christopher, also hyped up the movie on his own Twitter, "We're so excited about this and @JoshBooneMovies. Lots of great things to come. Stay tuned!"
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