Ansel Elgort is in talks to star in an untitled musical fantasy about the iconic fairytale author Hans Christian Andersen.

The 23-year-old actor - who was recently praised for his role in 'Baby Driver' - is in early talks to star in the new movie which has been penned by 'Life of Pi' scribe David Magee, Deadline report.

Elgort is best known for his acting roles, but has a background as a musical artist and is a trained singer and dancer.

Although he isn't attached to the production at the time of reporting, he is expected to agree to star at the iconic fairytale author, sources said.

The film has been pitched as a four quadrant epic musical fantasy and not a biopic.

It is set to follow Andersen as a young man who gets trapped in a world of his own imagination.

As he searches for his way back to reality, he comes face-to-face with characters from his own stories, which most try and trap him in their world forever.

The film will mark the first original musical from 'Wicked' composer and lyricist Stephen Schwartz and will be produced by the team behind 'Chicago' Craig Zadan and Neil Meron.

Schwartz will also help produce the picture alongside Magee with Mark Nicholson - who runs production for Zadan/Mero Productions.

It's also reported that the aim of the film is a potential movie franchise which can later be adapted to a Broadway musical.

Andersen's fairytales include 'The Emperor's New Clothes', 'The Little Mermaid', 'The Nightingale' 'The Ugly Duckling', 'Thumbelina' and 'The Snow Queen' - which was adapted by Disney into the massively popular 'Frozen'.

The author, poet, playwright and travel writer died in 1875.

Deadline report the pitch attracted the attention of all the studios as Schwartz played and sang one of the musical's big numbers.

Having received six firm offers, the team behind the movie decided to choose Fox 2000 and its Elizabeth Gabler will supervise the project.

The film will be fast-tracked following the success of Fox's original musical hit 'The Greatest Showman'.