The British star and Comic-Con deity has signed on to Legendary Entertainment’s 2016 release with Jordan Vogt-Roberts on board to direct.
Legendary chief Thomas Tull announced the project and showed teaser footage at Comic-Con in July.
The story is based on the origins of King Kong and will be based on an original draft of the script by Max Borenstein.
Universal Pictures plans to release Skull Island on November 4, 2016.
Vogt-Roberts directed and served as executive producer on the Sundance 2013 entry The Kings Of Summer.
Hiddleston famously stars as Loki for Marvel Studios and his upcoming releases include Legendary’s gothic horror Crimson Peak from Guillermo del Toro, Ben Wheatley’s adaptation of J G Ballard’s socially minded thriller High-Rise and Marc Abraham’s Hank Williams biopic I Saw The Light.