Jared Leto will play Hugh Hefner in an upcoming movie about the Playboy mogul

Jared Leto will star as the late Playboy mogul Hugh Hefner in an upcoming biopic from director Brett Ratner, according to The Hollywood Reporter.

Hefner died last week at the age of 91, but Ratner has reportedly been set on directing the project since 2007.

Ratner acquired the rights to the film in 2015, after its previous rightsholder, Jerry Weintraub of Warner Bros., passed away.

Leto, who stars in the upcoming "Blade Runner 2049," will take on a role that THR writes was once meant for Robert Downey Jr.

"Jared is an old friend," Ratner told THR. "When he heard I got the rights to Hef's story, he told me, 'I want to play him. I want to understand him.' And I really believe Jared can do it. He's one of the great actors of today."

The film is still in early development with Ratner's RatPac Entertainment.

NOW WATCH: A Dungeons & Dragons master shows us how to play the classic game featured in 'Stranger Things'