According to Variety, Depp will voice the lead character, a household pet that goes on an adventure to discover its true self.
John Logan (The Aviator) has penned the script from an idea hatched by Verbinski. Verbinski will work with Industrial Light & Magic on the animation.
Rango aims to use cutting-edge animation techniques that "will allow us to capture and translate every aspect of Johnny's performance, using it to drive the computer-generated character in a way that has yet to be seen in an animated feature," Verbinski said.
Depp is set to begin work on Rango in January. The studio has slotted the film for a March 2011 release.