Leonardo DiCaprio is set to produce 'The Time Machine'.

Leonardo DiCaprio

Leonardo DiCaprio

The 43-year-old actor will work as a producer through his Appian Way company for the upcoming adaptation of the H.G. Wells novel of the same name, which was first published in 1895.

According to The Hollywood Reporter, Leonardo will be working with 'IT' director Andy Muschietti on the project, as he steps up to helm the time travelling sci-fi flick.

'The Time Machine' tells the story of a Victorian-era scientist who travels 802,000 years into the future, discovering that humanity has split into two species: the lethargic Eloi and the night-stalking Morlocks.

When he becomes separated from his machine, he has to fight against the vicious Morlocks in order to get back to his own time.

The book was previously adapted into a movie by George Pal in 1960, who had taken on another famous title by Wells, 'The War of the Worlds', seven years earlier.

A less successful adaptation was also released in 2002, which was directed by Simon Halls and starred Guy Pearce.

This new version of the story will be a team-up between Warner Bros. and Paramount, and as of the time of writing, no casting announcements have been made.

For Leonardo, the producing role comes after he was recently announced to be working on his sixth film with legendary director Martin Scorsese, as they are due to team up for 'Killers of the Flower Moon'.

Scorsese said: "When I read David Grann's book, I immediately started seeing it - the people, the settings, the action - and I knew that I had to make it into a movie.

"I'm so excited to be working with Eric Roth and reuniting with Leo DiCaprio to bring this truly unsettling American story to the screen."

Meanwhile, Andy Muschietti is currently working on the 'IT' sequel, 'IT: Chapter Two', which is now in post-production.

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