Rumours today suggest Lady Gaga – currently riding a wave of acclaim off the back of A Star Is Born – is top of the wish-list.
The Disinsider claims she could end up playing the iconic role of the villain; the sea witch who takes Ariel’s voice.
And with music thought to be playing a big part in the movie, the multi-million-selling superstar could certainly be a great fit.
No casting news has officially been confirmed by Disney, although over the summer it was rumoured that Zendaya has been offered the part of Ariel.
The singer and actress – who stars in Spider-Man: Homecoming as MJ – was thought to be in the frame alongside Keke Palmer for the top role.
Alan Menken and Lin-Manuel Miranda are set to compose the music, which will seemingly include tracks from the animated Disney classic and some new material.
And Rob Marshall, currently overseeing Mary Poppins Returns – in which Miranda stars – is on board as director.
Disney seem to be combing through their animated back catalogue with live-action remakes in recent years: last year Beauty and the Beast broke records with Emma Watson and Dan Stevens leading the retelling.
Success was also enjoyed by Cinderella, starring Lily James, when Kenneth Branagh helmed it back in 2015; and – although it had modest success at the box office – Pete’s Dragon had a very positive reception from critics.
Also in the pipeline now are The Lion King directed by Jon Favreau, due for release next summer; and Dumbo, directed by Tim Burton, due next March.
Aladdin is also en route with Guy Ritchie directing, and Lady and the Tramp is also said to be getting a reimagining too.
Mulan, directed by Niki Caro, is due in 2020; and it was recently said that Lilo and Stitch is due to get the same treatment.
As for Gaga, she’s currently enjoying awards season buzz thanks to her work as Ally in A Star Is Born.
The film enjoyed a strong opening at box offices around the world at the weekend, despite fierce competition from Venom and – in the UK, at least – Johnny English Strikes Again.
Critics loved it, too: the movie currently holds an impressive 91% rating on Rotten Tomatoes.
The Little Mermaid does not currently have a release date.