The first trailer has been released for The Great Gatsby, directed by Baz Luhrmann.

Luhrmann has the unenviable task of adapting one of the most-highly regarded pieces of American literature, with many holding F. Scott Fitzgerald's book up as one of the finest ever written.

Starring Leonardo DiCaprio, Tobey Maguire and Carey Mulligan, the film follows the story of a Midwestern man (Maguire) who gets inexorably drawn towards the life of his fascinating neighbour, Gatsby (DiCaprio).

Luhrmann has never been a director famed for his subtlety, with previous films Australia and Moulin Rouge focusing on high style and lavish visuals. The trailer suggests The Great Gatsby will be no different, with the opulence of the 1920's high life played out in stunning costume and set design.

Fans of the book may be surprised to hear that the film will be shown in 3D, a technique generally reserved for action adventure films over period dramas. However Luhrmann convinced traditionalists with his modern, high-style reboot of Romeo & Juliet, while his Gatsby adaptation certainly seems visually true to the source material.

The Great Gatsby will be released on Boxing Day.