The Hollywood stars will take on lead roles in the project, which has been greenlit by executives at Netflix and Working Title, producers announced on Wednesday, November 14.
Based on the novel, first released in 1938, the story will tell of a newly-married young woman who, on arriving at her husband's imposing family estate on a bleak English coast, finds herself battling the shadow of his dead first wife, the mysterious Rebecca, whose legacy continues to haunt the house. Working Title's Eric Fellner, Tim Bevan, and Nira Park will produce the film. Further casting details or a potential release date have not yet been announced.
Among the other projects currently being made by executives at Working Title include Josie Rourke's "Mary Queen of Scots", starring Saoirse Ronan and Margot Robbie, Joe Cornish's "The Kid Who Would Be King", featuring Patrick Stewart and Rebecca Ferguson, as well as Tom Hooper's film adaptation of Andrew Lloyd Webber's musical "Cats", starring Ian McKellen, Jennifer Hudson, James Corden, and Taylor Swift.
"Baby Driver" actress Lily has most recently been seen onscreen in "Mamma Mia! Here We Go Again" and "Darkest Hour". The 29-year-old will next appear in an untitled film being made by Danny Boyle and Richard Curtis.
Meanwhile, "Call Me by Your Name" star Armie, 32, has been on the road promoting Boots Riley's "Sorry to Bother You" and Anthony Maras' "Hotel Mumbai". He will next be seen on the silver screen as Marty Ginsburg, the husband of U.S. Supreme Court Justice Ruth Bader Ginsburg, in biographical drama On the "Basis of Sex".
"Rebecca" was previously adapted for the big screen by Alfred Hitchcock in 1940, with the black and white film starring Laurence Olivier and Joan Fontaine.