Dwayne Johnson teams up with Disney for upcoming live-action 'Moana'

Dwayne Johnson has announced the making of live-action film Moana during Disney's shareholders meeting on Monday.

Disney has teamed up to sail with Moana once again, as the studio will develop a remake of its 2016's animated musical masterpiece.

Moana will be produced under Seven Bucks productions owned by Johnson, with Dany Garcia and Hiram Garcia also serving as producers on the project.

Meanwhile, Beau Flynn will produced the movie via Flynn Picture Co. Jared Bush, who penned the screenplay for the original one, is serving as the writer on this remake, along with Dana Ledoux Miller.

However, no director is involved at this stage of development.

Disney CEO Bob Iger and former wrestler shared the news during the studio's annual shareholders meeting on Monday.

"This story is my culture, and this story is emblematic of our people’s grace and warrior strength," said Johnson.

"I wear this culture proudly on my skin and in my soul, and this once-in-a-lifetime opportunity to reunite with Maui, inspired by the mana and spirit of my late grandfather, High Chief Peter Maivia, is one that runs very deep for me" he added.

Moana is inspired by Polynesian myths as it tells the story of a young woman who disobeys her father, the chief of an island that is dealing going through ecological disaster, and goes off on a mission to reunite a mystical relic with its owner, a goddess named Te Fiti.

During her journey, she sets Maui free from his island prison, who is captured by a monstrous crab and finds the strength to become the chief her father believed she could be.

Lin-Manuel Miranda is working on the song-making for Moana, along with Opetaia Foa’i and Mark Mancina.

The movie was a hit with audiences and critics, earning over $665 million worldwide and bagged an Oscar nomination for best animated movie, but lost to fellow Disney movie, Zootopia.