The movie will see the comic book superhero sent to live on Earth by his father as punishment for reigniting a war on Asgard. He becomes a guardian for his adopted homeland and later goes on to join the Avengers hero team comprised of Iron Man, Hulk and Captain America.
Hiddleston has previously worked with Thor director Kenneth Branagh on the London production of Chekhov's Ivanov and BBC series Wallander. In Thor, he will face off against Australian actor Chris Hemsworth, who secured the title role earlier this week.
Thor will debut in cinemas on May 20, 2011.