Will Smith has signed on to star in the new action flick, I Am Legend for Warner Bros. Pictures.

The film is based on the novel by Richard Matheson and is set in post-apocalyptic New York, reports Variety. It centers around the last healthy man (Smith) following the release of a virus that decimates the population. To survive, he must battle mutants that wreak havoc during the night.

Warner tried to start production on the film with director Ridley Scott and starring Arnold Schwarzenegger back in 1997, but because of an extreme budget estimate the film was put on hold. And once again, it got put on hold when Michael Bay and Will Smith were attached, but Warner couldn't get it off the ground.

This time, Francis Lawrence (Constantine) will take the helm for the film; Akiva Goldsman (The Da Vinci Code) is writing the script. I am Legend starts production next year in New York.

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