It’s happening, you guys! Yep, Disney reportedly has a live-action remake of Pinocchio in the works, and just wait until you see the star-studded cast!

According to Deadline, the network is eyeing the one and only Tom Hanks (who fans may recognize from his role as Woody in Toy Story!) to play Geppetto. Robert Zemeckis — who was behind movies like Back to the Future, The Polar Express, Forrest Gump and more — is reportedly set to direct the new movie, and we cannot wait.

“Although insiders say negotiations are very early, we hear that after reading the script, Tom has reached out to Robert to let him know he wants to do the film,” the outlet reports.

They added that years ago, the company had ideas to remake the animated classic with a different director, but that it eventually fell through.

“Disney has always longed for Tom to play the woodcarver, having approached him years ago,” Deadline explained. “That deal was never made, but given Tom and Robert’s long-standing relationship going back to when they both won Oscars for their work on Forrest Gump, this seems more likely to move forward.”

live action pinocchio cast

Andrew Miano and Chris Weitz are set to produce the new flick, with Chris and Robert reportedly working on the script. As fans know, the original movie followed a puppet named Pinocchio. When woodworker Geppetto saw a shooting star, he wished for his puppet to become a real boy. But when his wish became a reality, a lot of things went wrong.

It turns out, Pinnochio isn’t the only live-action remake that Disney has in the works. Yep, their new Mulan movie is coming to Disney+ in September. Plus, they recently announced the cast of their upcoming Little Mermaid remake, which is expected to hit theaters in late 2021. Halle Berry will star as the mermaid fans know and love, while Jonah Hauer-King is set to play the handsome Prince Eric. Oh, and did we mention that there’s rumors circulating the web that they’re also working on a live-action remake of the animated flick Tangled? Yep, Dove Cameron even said that she wants to play Rapunzel in the rumored flick, and fans are so here for it.

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