According to Deadline, the writers behind Captain Marvel and Rogue One are among the team working on the new adaptation, which follows reboots of The Jungle Book and The Lion King.
Last year, director Jon Fravreau’s live-action Lion King, which starred a voice cast including Beyonce and Donald Glover, took $1.66bn (£1.27bn) at the global box office, while his 2016 Jungle Book adaptation brought $966m (£739m).
Bambi has been revealed as the next Disney animated classic to be given a live-action makeover.
Its latest reboot, the highly anticipated live-action adaptation of Mulan, is scheduled for release on 27 March.