Academy Award-winning director ​Guillermo del Toro, one of the most visionary and talented filmmakers working today, has finally found a home for one of his longest-held passion projects. Netflix has announced that it will become the home for a stop-motion adaptation of Pinocchio that del Toro will write, direct, and produce.

Though it will mark del Toro's animated film debut as a director, he has logged plenty of experience in the genre having served as executive producer on Megamind, Rise of the Guardians, Kung Fu Panda 3, Book of Life, and Puss in Boots. And it won't be the director's first partnership with ​Netflix, as he created and produced the popular Trollhunter series.

Del Toro is reportedly deliriously excited about ​starting the project.

"No art form has influenced my life and my work more than animation and no single character in history has had as deep of a personal connection to me as Pinocchio," del Toro said in an official statement, according to ​The Hollywood Reporter. "I’ve wanted to make this movie for as long as I can remember."

​The Shape of Water director went on to give some brief background details about the film, which is already in pre-production. "In our story, Pinocchio is an innocent soul with an uncaring father who gets lost in a world he cannot comprehend," del Toro explained. "He embarks on an extraordinary journey that leaves him with a deep understanding of his father and the real world."

While no official cast list has been released, one can only assume that frequent del Toro collaborators Ron Perlman and Doug Jones might be involved in some capacity. However, it is known that The Jim Henson Company and ShadowMachine, the animation studio behind BoJack Horseman, will be making the animations themselves. The actual puppets will come courtesy of Mackinnon & Saunders, which did the same for Tim Burton's Corpse Bride.