The project is Disney’s first-ever Spielberg-directed film.
Spielberg previously said: ‘In more than 40 years of making movies, I have been on the producing end of a number of films for The Walt Disney Company, but never as a director.
‘It is a special joy to be in the director’s chair as we start The BFG, alongside my long-time friends and film collaborators Kathy Kennedy, who introduced me to this project, Frank Marshall and Melissa Mathison.
‘Together with them and Disney, there are many reasons why I am so excited about this joint venture.’
The BFG is set for release in July 2016.