The 3D blockbuster is due to open in cinemas on May 16, 2014, putting it in direct competition with the Michael Bay-produced Ninja Turtles remake.
Godzilla will be helmed by Monsters director Gareth Edwards based on a script by David Callaham, David Goyer and Max Borenstein.
The movie will "return the character to its epic roots with a gritty, realistic actioner", a Warner Bros press release states.
Edwards's Godzilla will be Hollywood's first take on the character since the 1998 Roland Emmerich outing. The Manhattan-set disaster movie, which starred Matthew Broderick, grossed $379 million at the worldwide box office but opened to poor critical reviews.
Watch Gareth Edwards discuss his Godzilla remake with Digital Spy below: