Walden Media has come on board to co-finance and co-produce the Roald Dahl adaptation with DreamWorks Studios.
Steven Spielberg, who recently wrapped the Tom Hanks Cold War thriller Bridge Of Spies, is set to commence production in March.
The BFG centres on a young London girl and the giant who introduces her to the wonders of Giant Country.
Melissa Mathison, who last teamed with Spielberg on E.T., wrote the screenplay. Spielberg, Frank Marshall and Sam Mercer will produce while Kathleen Kennedy, John Madden and Michael Siegel serve as executive producers.
Disney distributes in the US and select international territories while Mister Smith Entertainment will oversee distribution in Europe, Africa and the Middle East. DreamWorks’ partner Reliance, will distribute The BFG in India