Fresh off his Oscar nomination for his performance in The Master, Joaquin Phoenix is in talks to reunite with director Paul Thomas Anderson for Inherent Vice.

The actor replaces Robert Downey Jr., who was circling the project in February 2011, but ultimately dropped out. This noir tale, set in 1969 Los Angeles, is based on Thomas Pynchon's 2009 novel about a weed-smoking private detective on a kidnapping case.

Paul Thomas Anderson is directing from his own adapted screenplay, with Megan Ellison producing and financing through her Annapurna Pictures company. John Lesher and JoAnne Sellar are also attached to producer.

RELATED: Inherent Vice, Birdman and Gone Girl Teased in NYFF Trailer

It isn't known when production may begin.