The stage show, which is being developed in a reading this fall at Great Britain's Royal National Theatre, will not be a note-for-note adaptation of the film, but will incorporate elements from the film's source material, Carlo Collidi's 1881 novel "The Adventures Of Pinocchio."
All of them involve an enchanted marionette named Pinocchio whose only wish is to become a "real boy."
If the reading is successful, the show reportedly will be readied for a full-scale premiere at the National Theatre at Christmas 2016.
The stage score will feature familiar numbers from the film, including "Give A Little Whistle," "Hi-Diddle-Dee-Dee (An Actor’s Life For Me)," "Little Wooden Head," "I’ve Got No Strings" and the song that has become the unofficial Disney corporate anthem, "When You Wish Upon A Star."
The newspaper also reports that the score may also include "other songs written for the film and never used, as well as pieces penned during that period from the Disney catalogue."
No word on whether any original music will be composed for the stage show.
The show would be produced at the National Theatre in cooperation with Disney Theatricals. Disney is also currently at work on a live-action movie remake of "Pinocchio" that would use much of the same material.
Tiffany was recently reported to be staging the U.K. world premiere of the Harry Potter stage musical, Harry Potter and the Cursed Child, scheduled to open in summer 2016 at the Palace Theatre.