The Brit, who played villain Loki in the Marvel movies, has landed the lead in Paul Andrew Williams' Capa after The Amazing Spider-Man star Garfield stepped aside.
Announcing the casting news, Hiddleston tells Shortlist.com, "I look at his life and see it in heroic terms - a Hungarian kicked out of Hungary for writing against fascism, he moved to Germany where he was kicked out for being Jewish; then he moved to France and from there began a life-long commitment to make a stand against forces of fascism.
"As a man he was fantastically charismatic, dynamic, vigorous, exciting and energetic, too. I plan to go to the places he lived, those places he visited, read books about him, study his photographs and, crucially, learn how he took them."
Capa captured the major battles of World War Ii, including the Battle of Normandy on Omaha Beach as well as the liberation of Paris.