01/07/2012 09:52 am ET Updated Jan 07, 2012

Robert Downey Jr. In Pinocchio? Geppetto Role Targeted For Tim Burton Film

Make room, Johnny Depp: Tim Burton may be teaming up with another A-list star to bring a fairytale to life.

Burton, who put his bizarrely charming stamp on "Alice in Wonderland" in 2010, is in talks to direct a Warner Bros.-produced big screen, live action adaptation of "Pinocchio." Circling the role of Geppetto, the puppet-maker and creator of the marionette boy, is none other than Robert Downey Jr. This version of the fairytale originally written by Carlo Collodi would see Geppetto seeking out his lost puppet son; past iterations, including the classic Disney cartoon, have focused more on the twists, turns and lessons learned during Pinocchio's quest to become a real boy and reunite with the puppet-maker.

Neither director nor actor has signed on the dotted line, and scheduling still has to be worked out, but according to The Hollywood Reporter, they are both keen to sign on.

Downey can be seen in theaters right now in "Sherlock Holmes: A Game of Shadows," an adaptation of another classic story, and will make another appearance as Iron Man in Marvel's upcoming epic superhero teamup "The Avengers," which hits theaters this summer. As for Burton, he's in post-production on "Dark Shadows," a Depp-starring adaptation of the supernatural soap opera from the 60s and 70s, as well as "Frankenweenie," a stop-motion animation film for Disney.

For more, click over to The Hollywood Reporter.