20th Century Fox's long-gestating Fantastic Voyage remake has been given new life, with Guillermo del Toro entering talks to develop and direct. The Hollywood Reporter reveals that the director will work with writers David S. Goyer and Justin Rhodes on the screenplay. The project is being eyed as a massive tentpole project for the studio, but an official release date has not yet been given.

James Cameron has been developing the project for several years now, and he will continue to produce with his Lightstorm Entertainment partners Jon Landau and Rae Sanchini, with David S. Goyer set to executive produce. We reported in May 2014 that David S. Goyer was writing a new treatment for the project, and now he is set to co-write the script with Justin Rhodes (Contract Killers).

The original Fantastic Voyage hit theaters in 1966, centering on a team of scientists who are shrunk to atomic size and sent in a miniature submarine inside the body of a scientist to save his life. The movie was set during the Cold War, and the scientist was a defector who was in a coma after an assassination attempt. The original classic starred Stephen Boyd, Raquel Welch, Edmond O'Brien and Donald Pleasence.

Related: Fantastic Voyage Lands Shawn Levy

There have been several writers and directors who have taken a crack at Fantastic Voyage. James Cameron first announced the project back in 2009, with Shane Salerno (Savages) originally set to write the script. Laeta Kalogridis and the writing team of Cormac Wibberley and Marianne Wibberley have previously worked on the script, with directors such as Roland Emmerich, Paul Greengrass and Shawn Levy once attached, along with stars Will Smith and Hugh Jackman.

This report also reveals that Guillermo del Toro's Pacific Rim 2, which was originally set to be his next movie, has been delayed indefinitely. Back in September, the filmmaker confirmed that Pacific Rim 2 was delayed, but still happening, amid rumors that the studio was cancelling the sequel. Now it seems that Pacific Rim 2 is "off the table indefinitely," which lead him to come aboard for Fantastic Voyage. What do you think about Guillermo del Toro taking over on Fantastic Voyage?