The Hugo actress, 15, will portray possessed teenager Carrie White in the supernatural film, taking on the part made famous by a young Sissy Spacek in director Brian De Palma's classic 1976 adaptation.
Filmmaker Kim Pierce will direct the new project and Moretz is thrilled at the prospect of bringing Carrie to a new generation.
In a Twitter.com post on Tuesday (27Mar12), she writes, "Never been so happy in my life! Thank you Kim Pierce and thank u MGM for the chance of a lifetime i will never forget!"
Author King's bestselling novel was also turned into a TV movie in 2002.