A big-screen version of the smash-hit musical has been rumoured for years, and fans will be delighted to see it officially confirmed.
According to The Hollywood Reporter, Stephen Daldry will direct the movie, while "Wicked: The Life and Times of the Wicked Witch of the West" writer Gregory Maguire will also work on the film.
Composer and lyricist Stephen Schwartz, who worked on the Broadway show, will collaborate on the project as well.
The cast of the movie has yet to be revealed - but previous star of the musical Kristin Chenoweth has suggested four potential actresses for the lead roles.
The pair led the original 2003 Broadway cast of the Oz-based musical, with Menzel playing Elphaba and Chenoweth starring as Glinda.
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