Academy Award-winner Eddie Redmayne will portray Newt Scamander, the lead role in the upcoming Harry Potter spinoff film, "Fantastic Beasts and Where To Find Them."

Warner Bros. made the announcement on Monday night. The press release ended all speculation regarding Redmayne's involvement in the upcoming film that has been circulating for months.

"Eddie Redmayne has emerged as one of today's most extraordinarily talented and acclaimed actors," said Warner Bros. Pictures President of Creative Development and Worldwide Production Greg Silverman. "We are thrilled to welcome him into J.K. Rowling's Wizarding World, where we know he will deliver a remarkable performance as Newt Scamander, the central character in 'Fantastic Beasts and Where To Find Them.'"

David Yates, who helmed the last four "Harry Potter" films, will return to direct the movie.

In a statement, the filmmaker expressed his delight in the casting of Redmayne.

"Eddie is a fearless actor, brimming with invention, wit and humanity," said Yates. "I couldn't be more excited about the prospect of working with him as we start this new adventure in J.K. Rowling's wonderful world, and I know she feels the same way."

The upcoming movie is the first in a trilogy. It will be the screenplay debut of Rowling, the author behind the bestselling Harry Potter series.

"Fantastic Beasts and Where To Find Them" will focus on the "Wizarding World's preeminent magizoologist" as he traveled the world and stayed in New York to study magical creatures. The story of the film will begin 70 years prior to the events in Hogwarts with Harry Potter and his friends.

"Although it will be set in the worldwide community of witches and wizards where I was so happy for 17 years, 'Fantastic Beasts and Where To Find Them' is neither a prequel nor sequel to the 'Harry Potter' series but an extension of the wizarding world," said Rowling in a Facebook post.

Prior to Redmayne's signing to be on board the film, "X-Men: Days of Future Past" and "Mad Max: Fury Road" actor Nicholas Hoult was also considered for the lead role, according to Variety.

Meanwhile, the studio is still looking for actors to fill in the other roles. The Wrap mentioned Dakota Fanning, Lili Simmons, Saoirse Ronan and Alison Sudol as all part of the shortlist for the female leads in the movie.

Kate Upton, Elizabeth Debicki and Katherine Waterston have all been linked to the movie as well.

The first "Fantastic Beasts and Where To Find Them" movie is scheduled to hit theaters on November 18, 2016.