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According to The Hollywood Reporter, the project will be part of a celebration of Dickens's bicentenary dubbed 'Dickens 2012', co-ordinated by the Charles Dickens Museum, Film London and The Dickens Fellowship.
"Dickens's stories have spawned films, plays, television dramas and musicals and after Shakespeare, no other writer matches Dickens in terms of global cultural influence," said Film London's Adrian Wooton.
Director David Lean adapted Great Expectations for an Oscar-winning 1940s feature. Ethan Hawke and Gwyneth Paltrow starred in a 1998 screen adaptation directed by Alfonso Cuaron.
Newell's previous films also include Donnie Brasco, Four Weddings and a Funeral and Prince of Persia: The Sands of Time.
More: Mike Newell, Movies
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