Naomi Watts would be playing the role of Princess Diana in a new movie titled "Caught In Flight," a biopic on the late princess.
The movie by German film director Oliver Hirschbiegel would be dealing with the final two years of Princess Diana's life before her death in a car crash in Paris in 1997.
Princess Diana got married to Prince Charles in 1981 and the marriage came to an end in 1996. She was just 36 when the accident took her life.
"Caught In Flight," would focus on Princess Diana's humanitarian work and her personal life, including her secretive relationship with heart surgeon Dr Hasnat Khan.
43-year-old Naomi Watts considers it an honour to play the role of Princess Diana. Watts was an Oscar nominee for her role as a recovering drug addict in "21 Grams," a 2003 drama.
Her movies include blockbusters such as King Kong, The Painted Veil and J. Edgar.
"Princess Diana was loved across the world, and I look forward to rising to the challenge of playing her on screen," said the British- born actress during the announcement of the movie.
"Delighted to have such a truly exceptional actress who embodies the warmth, humanity and empathy of such a global icon as Princess Diana," said Oliver Hirschbiegel.
Hirschbiegel has directed the 2004 film "Downfall," which depicted the final days of Adolf Hitler. The movie would start rolling by late this year in Britain.