The company announced that it will partner with Avatar director James Cameron to create a number of themed lands that will allow visitors to interact with the film's universe.
"James Cameron is a groundbreaking filmmaker and gifted storyteller who shares our passion for creativity, technological innovation and delivering the best experience possible," said Disney president Robert A Iger.
"With this agreement, we have the extraordinary opportunity to combine James's talent and vision with the imagination and expertise of Disney."
Cameron expressed his enthusiasm for the joint enterprise, revealing that he cannot wait to get started on the project.
"Avatar created a world which audiences can discover again and again and now, through this incredible partnership with Disney, we'll be able to bring Pandora to life like never before," he said.
"With two new Avatar films currently in development, we'll have even more locations, characters and stories to explore."
"Our goal is to go beyond current boundaries of technical innovation and experiential storytelling, and give park goers the chance to see, hear and touch the world of Avatar with an unprecedented sense of reality."
The company revealed that it hopes to begin construction on the first park by 2013. It will be located inside the Animal Kingdom park.
Cameron is currently at work on two sequels to the 2009 film. Earlier this year, he suggested that Avatar 2 could be in theatres by Christmas 2014.