Naomi Watts to Play Princess Diana in 'Caught in Flight' — Sorry, Jessica Chastain!

Although previous reports claimed Hollywood's new It girl Jessica Chastain would be starring as the late Princess Diana in an upcoming biopic, producers have now confirmed that Oscar-nominated actress Naomi Watts has been cast as the "People's Princess."

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Naomi will play Diana in Stephen Jeffreys' Caught in Flight, which will be directed by Oliver Hirschbiegel.

"It is such an honor to be able to play this iconic role," Naomi says in a statement. "Princess Diana was loved across the world, and I look forward to rising to the challenge of playing her onscreen."

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Caught in Flight will focus on the final two years in the life of Prince William and Prince Harry's mother, including her divorce from Prince Charles, her humanitarian work and her romance with the rumored "love" of her life, Dr. Hasnat Khan. The film will conclude with Diana's tragic death at age 36 in August 1997, when she was killed in a car crash along with her billionaire beau, Dodi Al-Fayed.

Do you think Naomi will make a good Diana? We want to hear your thoughts!