The Y Tu Mama Tambien star will reunite with his Desierto director Jonas Cuaron, the son of Gravity moviemaker Alfonso, for a futuristic reboot of the franchise, titled Z.

“I have always loved Gael for this role,” producer Mark Amin said in a statement. “Zorro is a hero who is charming, witty, and clever. Gael possesses all those characteristics and he’s able to deliver them with a modern spin to introduce the Zorro character to a new audience."

Plot details for the long-gestating project have been kept under wraps, but the movie is set to “take audiences to a new and visually exciting world.”

Zorro, the alter ego of Don Diego de la Vega, was created by writer Johnston MCCulley in 1919 and has been portrayed onscreen by many actors, including Douglas Fairbanks, Guy Williams, Anthony Hopkins and most recently, Antonio Banderas in 1998's The Mask of Zorro and 2005's The Legend of Zorro.

The project is being taken to the Cannes Film Festival in France, which starts on Wednesday (11May16), to be shopped around for potential buyers.

It is scheduled to start shooting in the Dominican Republic in the autumn (16).

Gael, 37, recently won a Golden Globe for his TV series Mozart in the Jungle. He recently worked with Jonas on Mexican thriller movie Desierto, which is set to be released later this year (16).

Jonas will both write and direct the movie. He previously co-wrote 2013 space thriller Gravity with his father, and they received a BAFTA nomination for Best Original Screenplay.