Producer Denise Di Novi confirmed that the Harry Potter actress will headline a Guillermo del Toro-produced adaptation of the classic fairy tale, Coming Soon reports.
For the moment, del Toro is working on his monster film Pacific Rim, which stars Charlie Day, Charlie Hunman and Idris Elba. It is set to open in theaters on July 12, 2013.
Meanwhile, Watson recently finished shooting The Perks of Being a Wallflower alongside Vampire Diaries star Nina Dobrev and Role Models actor Paul Rudd.
There is no word on when production on this version of Beauty and the Beast will begin.
Last week, Watson claimed that she felt like an actress for the first time while working on Harry Potter and the Deathly Hallows: Part 2.