The 43-year-old actress has been cast in the role played by Piper Laurie in the 1961 movie as part of a new stage production which is due to open in the autumn this year, reported Daily Star.
In the film, Newman starred as pool-player and hustler 'Fast Eddie' Felson, while Laurie played his girlfriend in roles which won them both Academy Awards nominations.
The play version will mark Zellweger's first high-profile foray into theatre. Rumours previously suggested she would be appearing in 'The Hustler' on Broadway.
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