Oh we are SO excited about this news!
Our favourite little elephant is set to hit the big screen once again, in a live action remake of Disney's Dumbo.
Tim Burton, the genius behind The Nightmare Before Christmas, is planning to produce this reboot, and is already approaching some of Hollywood's biggest actors.
This week it was confirmed that Will Smith is in talks with the producers of the film, to play the father of children who form a bond with Dumbo.
Tom Hanks is also being considered for the role of the movie's villain, which would certainly be a change from his typical roles.
We certainly cannot wait to see this elephant fly!