ET has learned that the Little Women star is in talks to play folk rock icon Bob Dylan in a biopic directed by James Mangold for Fox Searchlight Pictures.
The film's official title has not yet been announced, however Variety reports that the project is unofficially being referred to as Going Electric.
The film will reportedly detail a particularly important time in Dylan's life when he moved away from folk music and into rock and roll, which caused outrage among many of his biggest fans while at the same time cementing his status as a timeless figure of American music.
The potential casting news has certainly stirred the imagination of Chalamet's legion of fans, many of whom took to Twitter to praise the decision, and to share side-by-side pics showing exactly how good the actor could be in the role.
The news comes on the heels of a long line of acclaimed performances from Chalamet, including his Oscar-nominated role in Call Me By Your Name and Beautiful Boy, as well as his most recent turns in Little Women and The King.
He will also soon be seen in Wes Anderson's The French Dispatch and Denis Villeneuve's upcoming adaptation of Dune.