The actor shared the news of his latest project in celebration of his 54th birthday on Thursday, March 14, revealing that he will be taking on the lead character in the revamp, which will be renamed "Lal Singh Chaddha".
Filmmaker Advait Chandan will direct the movie, which Khan will co-produce via his Aamir Khan Productions firm.
"I have always loved 'Forrest Gump' as a script," Khan shared. "It is a wonderful story about this character. It is a life-affirming story. It is a feel good film. It is a film for the whole family."
The 1994 comedy drama, starring Hanks in the titular role, was based on the 1986 novel of the same name by Winston Groom, and followed the slow-witted but kind-hearted Alabama native as he inspired those around him.
Production on the Bollywood version of "Forrest Gump" is set to begin in October, ahead of a 2020 release.