Steven Spielberg will direct the screen adaptation of Roald Dahl's 'The BFG'.

The 67-year-old filmmaker is set to helm the picture which follows a little girl who leads the titular big, friendly giant and the Queen of England on a mission to stop the giants from eating children and Spielberg is ''honoured'' to bring it to the big screen.

In a statement the director said: '''The BFG' has enchanted families and their children for more than three decades. We are honoured that the Roald Dahl estate has entrusted us with this classic story.''

Melissa Mathison, who last worked with Spielberg on 'E.T. The Extra-Terrestrial', will pen the script, while Frank Marshall will produce, and Michael Siegel and John Madden will executive producers, reports

Spielberg will begin production in 2015, with a planned 2016 release.

Meanwhile, Spielberg is reportedly set to team up with Tom Hanks for their fourth big screen collaboration after 'Saving Private Ryan,' 'Catch Me If You Can' and 'The Terminal', for an unnamed Cold War thriller.

His films have received worldwide recognition with the 1993 epic 'Schindler's List' and 1998's 'Saving Private Ryan' winning him an Oscar for Best Director, while 'Jaws' 'E.T.' and 'Jurassic Park' achieved phenomenal box office success.