Lily Collins to star as Audrey Hepburn in new film about Breakfast at Tiffany's

Lily Collins is set to play Audrey Hepburn in a film about the making of her 1961 classic, Breakfast at Tiffany's.

The film is based on Sam Wasson's bestselling book Fifth Avenue, 5 am: Audrey Hepburn, Breakfast at Tiffany's and the Dawn of the Modern Woman, Deadline reports.

Collins confirmed the news in an Instagram post on Monday.

"It's with almost 10 years of development and a lifetime of admiration and adoration for Audrey that I'm finally able share this," she wrote. "Honoured and ecstatic don't begin to express how I feel."

One of the defining figures of Hollywood's Golden Age, Hepburn won an Oscar for Roman Holiday in 1953, and went on to star in classics such as Sabrina and Funny Face before cliching the lead in Breakfast at Tiffany's, the romantic comedy based on a Truman Capote novella.

It was nominated for five Oscars, with Hepburn receiving a nod for Best Actress. Sophia Loren went on to win for Two Women.

Collins currently stars in and produces Netflix's hit romantic dramedy Emily in Paris, which returned for its fifth season in December and has been renewed for a sixth.

The Golden Globe and Emmy nominee is also signed on to star in the upcoming Amazon MGM feature adaptation of Polly Pocket.