It's official! Straight from StarWars.com:

After a bevy of emails and phone calls, the formalities have been wrapped up, and at long last everyone can exhale and properly share the word with an excited Internet. Yes, J.J. Abrams will direct Star Wars: Episode VII, the first of a new series of Star Wars films to come from Lucasfilm under the leadership of Kathleen Kennedy. Abrams will be directing and Academy Award-winning writer Michael Arndt will write the screenplay.

Here is what Kathleen Kennedy had to say about the announcement.

"It's very exciting to have J.J. aboard leading the charge as we set off to make a new Star Wars movie. J.J. is the perfect director to helm this. Beyond having such great instincts as a filmmaker, he has an intuitive understanding of this franchise. He understands the essence of the Star Wars experience, and will bring that talent to create an unforgettable motion picture."

George Lucas continued, saying this about the director.

"I've consistently been impressed with J.J. as a filmmaker and storyteller. He's an ideal choice to direct the new Star Wars film and the legacy couldn't be in better hands."

J.J. Abrams had this to say for himself.

"To be a part of the next chapter of the Star Wars saga, to collaborate with Kathleen Kennedy and this remarkable group of people, is an absolute honor. I may be even more grateful to George Lucas now than I was as a kid."

Past Star Wars veterans, dating back to the classic trilogy, offered words of praise from their direct experience with Abrams:

"He puts everything he has into his work," said Muren. "He totally immerses himself. He's got such a visual eye, which is so important to the Star Wars films. It seems that a lot of the same things that were in George when he made the first Star Wars films are also in J.J. I think he's going to fit into the other movies perfectly, with the energy that J.J. has. We're kick-starting Star Wars again with dynamite. It will knock people out, including the people who get to work on it. I think it's a great choice."

"J.J. represents the next generation of filmmakers from those that were making Star Wars when I started," said Ben Burtt. "When he was a teen, he was a fan of Star Wars, and a great deal of his love for movies came out of his reaction of that first Star Wars film. You feel that he's already invested so many years in it, and he's going to propel it forward in a new way. In other words, you're having a fan who has grown up and developed tremendous directorial skills finding himself at the steering wheel to take the franchise into the next stage. I feel like I'm there watching history turn over from one era to another."

"Working with him, it was so obvious to me that J.J. and I have the same nostalgic love of that era. Now we have someone from that generation who is going to be at the helm of the Star Wars franchise that I've known and worked on, so it's a great circle. Just seeing what he did with Super 8 and capturing those moments, and knowing what was so special about that era, it's going to speak to a new generation of audience as well."

J.J., his longtime producing partner Bryan Burk, and Bad Robot are on board to produce along with Kathleen Kennedy under the Disney | Lucasfilm banner.

Also consulting on the project are Lawrence Kasdan and Simon Kinberg. Kasdan has a long history with Lucasfilm, as screenwriter on Star Wars: Episode V - The Empire Strikes Back, Raiders of the Lost Ark and Star Wars: Episode VI - Return of the Jedi. Simon Kinberg was writer on Sherlock Holmes and Mr. and Mrs. Smith.

J.J. Abrams and his production company Bad Robot have a proven track record of blockbuster movies that feature complex action, heartfelt drama, iconic heroes and fantastic production values with such credits as Star Trek, Super 8, Mission: Impossible Ghost Protocol, and this year's Star Trek Into Darkness. J.J. Abrams has worked with Lucasfilm's preeminent postproduction facilities, Industrial Light & Magic and Skywalker Sound, on all of the feature films he has directed, beginning with Mission: Impossible III. He also created or co-created such acclaimed television series as Felicity, Alias, Lost and Fringe.