WILLOW SMITH TO PLAY ANNIE IN MUSICAL! PRODUCED BY WHO ELSE BUT JAY Z, WILL & JADA!

Willow Smith is about to whip Annie's hair back into shape for the first time in almost three decades.

The daughter of Will and Jada Pinkett-Smith is set to take over the title role in a remake of the film based on the 1977 Broadway musical, "Annie," which will be produced by her parents and musician Jay-Z.

Overbrook Entertainment's partners, including the Smiths, have formed a joint venture with the rapper to develop and produce movies, Jay-Z announced Wednesday.

"The Overbrook Entertainment family and I have a unified vision," Jay-Z said in an official statement. "We've already produced a Tony Award winning play and we're developing a true superstar in Willow."

This is not the first time the trio has worked together on a Broadway adaptation. They co-produced a production of Fela! on the Great White Way last year, which was nominated for 11 Tony Awards.

Meanwhile, Willow is also signed onto Jay-Z's record label, Roc Nation, which produced the 10-year-old singer's first single, "Whip My Hair."

Jay-Z expressed interest in "Annie" as far back as 1998, when he sampled "It's the Hard Knock Life" in his single, "Hard Knock Life (Ghetto Anthem)."

Originally based on a comic strip, "Annie" was adapted from Broadway to the big screen by Columbia Pictures in 1982, with Aileen Quinn in the title role.

"The time is right to bring back ANNIE to the big screen. Of course, we're true believers in Willow's talent and believe she will be perfect in this role," Columbia Pictures President Doug Belgrad said in a statement. "Combining Willow with the Overbrook team that reimagined Karate Kid and the spectacular JAY-Z makes this a dream project."

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