The movie is one of several live-action reboots Disney is planning, which reportedly include stars such as Tim Burton and Beyonce.
Will Smith is reportedly Disney's first choice to play the Genie in a live-action remake of the 1992 animated classic, Aladdin.
The studio will hoping for more success after its live-action movie Beauty And The Beast, starring Emma Watson and Dan Stevens, smashed box office records.
After targeting Snatch director Guy Ritchie to make Aladdin, Disney now wants Smith to play the role made famous by the late Robin Williams.
According to reports in Deadline magazine, the Fresh Prince had previously been in talks to join a Dumbo remake, but that did not materialise.
Like its $1bn "beastly" predecessor, Aladdin will also be a live-action musical, fitting perfectly into Smith's singing and dancing skills.
As for Dumbo, Disney has reportedly signed director Tim Burton and actor Danny DeVito, and are in talks with Eva Green to join the cast.
Burton worked closely with Big Fish writer John August, who has finished the script for the Aladdin remake.
The story will be based on animated classic released 25 years ago, which follows Aladdin and Princess Jasmine after the thief finds a magic lamp.
When he rubs it, a genie who was trapped inside is released, and grants Aladdin three wishes.
Disney has several more of these movies planned, including a Mary Poppins remake starring Emily Blunt, a live-action remake of Mulan and a Jon Favreau-helmed Lion King which could feature Beyonce.
Source: news.sky
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