Leonardo DiCaprio is ready to be a movie a star again. First, we'll see him later this year when he stars in Quentin Tarantino's Once Upon a Time in Hollywood. Now, Variety is reporting that he's set to team with Guillermo del Toro for an adaptation of William Lindsay Gresham's 1946 novel, Nightmare Alley.

Del Toro, who's fresh off his Oscar wins for The Shape of Water, will direct Nightmare Alley, with DiCaprio being eyed for the starring role. The book, which is centered on a carnival filled with sleazy inhabitants, was previously adapted into a movie in 1947. Reports indicate that the film will follow the novel more faithfully than the 1947 feature, whose gothic aesthetic align perfectly with del Toro's own sensibilities. 

Del Toro is currently looking to fill out the rest of the cast ahead of filming, which is scheduled to start later this year. But fans of del Toro need not wait that long to get their fix. He also produced Scary Stories to Tell in the Dark, which hits theaters August 9.

While Leo did take a brief hiatus from acting following his Oscar-winning turn in The Revenant, he's coming back with a vengeance. He's reuniting with Martin Scorsese for the upcoming Killers of the Flower Moon, and continues to grow as a producer and an environmental activist. Unfortunately, that activism led to his appearance in Lil Dicky's nauseating "Earth" video, but hey, at least Leo will be back to doing what he does best soon.