The Herald Sun reports
Aussie actress Naomi Watts will play Diana, Princess of Wales, in a movie about the tragic British royal, it was announced today.
The Oscar-nominated star will portray the late princess in the forthcoming biopic Caught In Flight, which focuses on the last two years of Diana's life, British company Ecosse Films said.
British-born Watts, 43, is rumoured to have beaten US actress Jessica Chastain to the coveted part of the people's princess.
The Ring actress said, "It is such an honour to be able to play this iconic role - Princess Diana was loved across the world, and I look forward to rising to the challenge of playing her on screen."
Oscar-nominated German director Oliver Hirschbiegel will helm the movie when it begins production in the UK next year, Deadline.com reported.
The Downfall director said, "I am delighted to have such a truly exceptional actress who embodies the warmth, humanity and empathy of such a global icon as Princess Diana."
The movie is based on a screenplay by The Libertine playwright Stephen Jeffreys, and will show how the princess finally found true personal happiness and achieved success as an international campaigner and humanitarian.
Watts, who is filming drama The Grandmothers, with Robin Wright, still faces competition from another biopic about the princess - one which will cover the years leading up to her divorce.
Iron Lady producer Stephen Evans is set to make a film based on the book Diana: Closely Guarded Secret, by Diana's former bodyguard Ken Wharfe.
Caught In Flight is the latest in a series of biopics to emerge in recent times.
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