'Pan's Labyrinth' is to be adapted into a stage musical.
Director Guillermo Del Toro has already written the script for the stage version with newcomer Jeremy Ungar.
[Related story: Del Toro to direct Crimson Peak]
There's also Oscar-winning composer Gustavo Santaolalla on board to write the music and songs, and Paul Williams to write lyrics.
Said Santaolalla: “I’m so excited about translating Guillermo’s magical vision into music and songs. I’m such a longtime fan of both Guillermo and Paul that to work on this with them is truly a dream come true.”
The film was released to critical rapture in 2006, many critics naming it the film of the year.
It also went on to win Oscars for best art direction, best cinematography and best make-up.
The films follows the life of a young girl, Ofelia, who retreats into a world of fantasy while under the tyrannical authority of her vicious, pro-Franco stepfather in post-Civil War Spain.
It's not yet known where the musical will debut.
Meanwhile, Del Toro continues to be one of the hardest-working directors in Hollywood.
His forthcoming blockbuster 'Pacific Rim' is gearing up to release its first trailer, with some enticing teaser material already hitting the web.
The film, in stark contrast to the dark fantasy of 'Pan's Labyrinth', sees the planet threatened by monstrous creatures called 'kaiju' that emerge from the oceans.
They are then battled by soldiers piloting giant robots, in what Del Toro describes as 'a beautiful poem to giant monsters', influenced by the creatures of Japanese film.
It stars Charlie Hunnam, Idris Elba and Ron Perlman, and is due out on July 12, 2013.