The "Harry Potter" fandom can start rejoicing again as an Oscar-winning actor is reportedly being tapped to portray the title role in the spin-off movie, "Fantastic Beasts and Where to Find Them."  

Variety exclusively reported that Eddie Redmayne, the actor who portrayed the role of Professor Stephen Hawking in the critically acclaimed film "The Theory of Everything," might star as Newt Scamander in the upcoming offshoot movie. 

The film is author J.K. Rowling's first attempt at writing a script for the big screen, which is said to be the first part of a trilogy.

Rowling explained the concept of the film, saying, "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 a sequel to the 'Harry Potter' series but an extension of the wizarding world." 

Fans of the bestselling fictional fantasy saga will remember Scamander as a "magiczoologist" or a person who deals with the study of magical creatures in the wizarding world. He is also the author of the textbook titled "Fantastic Beasts and Where to Find Them," which Hogwarts students used. 

According to rumors, Scamander's story is set in New York a few decades before Harry Potter's story began. He will be joined by four new characters in the story, said to be a couple of American girls and two other American boys. 

Aside from Redmayne, Warner Bros. is also reportedly considering "Mad Max: Fury Road" star Nicolas Hoult to portray the lead character. However, no official announcement has yet been made regarding the cast for the upcoming film.

"Fantastic Beasts and Where to Find Them" is set to for release on Nov. 18, 2016.