It's official! Academy Award winner Eddie Redmayne has signed on to star in J.K. Rowling's "Harry Potter" spinoff film, "Fantastic Beasts and Where to Find Them."

According to BBC, "The Theory of Everything" actor will play magizoologist Newt Scamander, who wrote the famous textbook Harry Potter and his friends used while studying magic at Hogwart's School of Witchcraft and Wizardry.

Rowling, who also wrote the source material, will be making her debut as a screenwriter on the film, while David Yates, who directed several of the "Harry Potter" films, will work his magic once more to bring the wizarding world to life.

Warner Bros' Greg Silverman said in a statement, "Eddie Redmayne has emerged as one of today's most extraordinarily talented and acclaimed actors. We are thrilled to welcome him into JK Rowling's Wizarding World where we know he will deliver a remarkable performance."

Yates also gave his impression about the star. "Eddie is a fearless actor, brimming with invention, wit and humanity. I couldn't be more excited about the prospect of working with him as we start this new adventure in JK Rowling's wonderful world, and I know she feels the same way."

While Redmayne's name has come up to star in the film, other contenders for the role of Newt Scamander, according to Cinema Blend, also included Matt Smith and Nicholas Hoult. For more of Redmayne's acting, he also starred in "Les Miserables," and "Jupiter Ascending," and he just finished wrapping up "The Danish Girl" as the transgender artist, Lili Elbe.

Reports also circulated that the other four lead characters, two males and two females, will potentially include Kate Upton, Dakota Fanning, and Saoirse Ronan. The additional characters, which are noted to be American, is also in line with the fact that Rowling, herself, confirmed the story to take place in New York City.

Rowling previously revealed to fans, "The laws and customs of the hidden magical society will be familiar to anyone who has read the Harry Potter books or seen the films. But Newt's story will start in New York, seventy years before Harry's gets underway."

Entertainment Weekly also noted that Rowling and Yates are not the only "Harry Potter" mainstays who will be working on the "Fantastic Beasts" film. It will be co- produced by David Heyman, who also produced all eight movies; Steve Klove, who is writer of seven; and Lionel Wigram, who executive produced the last four.

More news about "Fantasic Beasts" will be uncovered soon, but one thing is for sure: the film has a scheduled November 18, 2016, release.