As reported by Variety “Pinocchio” will be the first animated feature by Mexican director Guillermo Del Toro (“Pan’s Labyrinth”). He will co-direct with Mark Gustafson.

“Pinocchio” will be shot in 3D and stop-motion and will be produced by the Jim Henson Company. Even though the casting has not yet been confirmed, Del Toro is said to be interested in Tom Waits for the role of Pinocchio’s father, Gepetto, and Donald Sutherland as the fox.

The character of Pinocchio appeared for the first time in cinema in 1940 in the Disney-produced “Pinocchio.”

Shooting is expected to begin in summer of 2013. Meanwhile, the director is working on post-production for his next film “Pacific Rim.”