Brand new live action Lord of the Rings movie from Peter Jackson is now in the works

A brand new live action Lord of the Rings movie from Peter Jackson is in the works, it has been announced.

During an earnings call on Thursday (9 May), Warner Bros. Discovery CEO David Zaslav announced that the currently unnamed title is in the early stages of script development.

On top of that, it will apparently 'explore storylines yet to be told'.

Jackson, the original Lord of the Rings creator, is returning to head up the project, alongside his writing partners, Fran Walsh and Philippa Boyens, who are also producing the movie.

"Lord of the Rings is one of the most successful and revered franchises in history and presents a significant opportunity for theatrical business,” Zaslav said during the earnings call.

Peter Jackson is involved with the new project. (Kevin Winter/Getty Images)

The newest Lord of the Rings project is set be the first in a series of movies revisiting the fantasy world created by J.R.R Tolkien.

Jackson's much-loved trilogy and the Hobbit movies have already covered the most popular of Tolkien's works, but there are still other tales to be told within this amazing world.

It is set for a 2026 release date.

Last year, Warner Bros' announced more Lord of the Rings was coming, so it has certainly been a long wait for fans waiting for more information.

Warner Bros. Discovery CEO David Zaslav revealed that the studio and New Line Cinema had struck a long-term deal with Embracer Group AB’s Middle-Earth Enterprises, for a series of new movies based on J.R.R. Tolkien's fantasy world.

Discussing the agreement, Lee Guinchard, the CEO of Embracer Group’s Freemode, said: "Following our recent acquisition of Middle-earth Enterprises, we're thrilled to embark on this new collaborative journey with New Line Cinema and Warner Bros. Pictures, bringing the incomparable world of J.R.R. Tolkien back to the big screen in new and exciting ways.

Lord of the Rings is making a return. (New Line Cinema)

"We understand how cherished these works are, and working together with our partners at New Line Cinema and Warner Bros. Pictures, we plan to honor the past, look to the future, and adhere to the strongest level of quality and production values."

Meanwhile, Michael De Luca and Pam Abdy, from Warner Bros. Pictures Group, said it was an incredible opportunity to bring fans of the franchise deeper into the story.

"Twenty years ago, New Line took an unprecedented leap of faith to realize the incredible stories, characters and world of The Lord Of The Rings on the big screen. The result was a landmark series of films that have been embraced by generations of fans," they said.