This year's Cannes film festival will swing open in '20s style.

Baz Luhrmann's "The Great Gatsby" has been selected to begin the festivities for the 66th edition.

The project, which stars Leonardo DiCaprio, Tobey Maguire and Carey Mulligan, could become one of summer's biggest events when it has its American release on May 10.

"The Great Gatsby" will then debut at the film festival five days later on May 15.

This won't be the first time Cannes has screened a film in 3-D, as it previously did that with 2009's "Up." Luhrmann isn't a stranger to the festival, either, as his 2001 movie "Moulin Rouge!" opened that year's fest.

For Luhrmann, opening at Cannes has a special significance for both his film and its story.

"It is a great honor for all those who have worked on 'The Great Gatsby' to open the Cannes Film Festival. We are thrilled to return to a country, place and festival that has always been so close to our hearts," he said in a statement. "[N]ot only because my first film 'Strictly Ballroom' was screened there 21 years ago, but also because F. Scott Fitzgerald wrote some of the most poignant and beautiful passages of his extraordinary novel just a short distance away."

Cannes will run from May 15 - 26, and will be judged by this year's special guest judge and head of jury, Steven Spielberg.