The original 1994 movie will be given a live-action reboot and the filmmaker, who helmed this year's blockbuster "The Jungle Book", admitted he is "excited" about the project, reported Variety.
In a tweet complete with emojis of a lion and a crown, he wrote, "Excited for my next project."
Disney has said songs from the 1994 movie will feature in the new motion picture and admitted the movie is on the "fast-track to production".
Classic tunes from the film include "Circle of Life", "I Just Can't Wait to Be King", "Be Prepared", "Hakuna Matata" and "Can You Feel the Love Tonight", which were written by Elton John and Tim Rice.
Matthew Broderick voiced main character Simba in the original movie, while James Earl Jones lent his vocal talents to the role of Mufasa, Simba's father, and Jeremy Irons voiced Simba's evil uncle Scar.
Moira Kelly starred as Simba's wife Nala, and Nathan Lane and Ernie Sabella were comedy duo Timon and Pumbaa, a meerkat and a warthog.
Comedian Rowan Atkinson voiced hornbill Zazu and Robert Guillaume was mandrill Rafiki. The cast of the reboot and the release date are yet to be confirmed.
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