Brad Pitt and Leonardo DiCaprio are joining forces with director Quentin Tarantino yet again to star in the filmmaker's latest feature film, Once Upon a Time in Hollywood, Sony Pictures announced Wednesday.

Deadline reports Tarantino describes the plot as 'a story that takes place in Los Angeles in 1969, at the height of hippy Hollywood.

'The two lead characters are Rick Dalton (Leonardo DiCaprio), former star of a Western TV series, and his longtime stunt double Cliff Booth (Brad Pitt). Both are struggling to make it in a Hollywood they don't recognise anymore. But Rick has a very famous next-door neighbour...Sharon Tate.'

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Negotiations between the filmmaker and actors have been ongoing for several months and were rumoured to have almost fell through, with DiCaprio almost walking away from the project altogether in January.

Fortunately for the trio, they've already got their collaborative creativity down to a fine art, with the Titanic actor having starred in Tarantino's Django Unchained, and Pitt in the 2009 award-winning film Inglourious Basterds.

'I've been working on this script for five years, as well as living in Los Angeles County most of my life, including in 1969, when I was seven years old,' Tarantino said Wednesday in a statement.

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'I'm very excited to tell this story of an L.A. and a Hollywood that don't exist anymore. And I couldn't be happier about the dynamic teaming of DiCaprio & Pitt as Rick & Cliff.'

The film is set to be released worldwide on 9 August 2019.

Tarantino has made the headlines in recent weeks after a tape emerged of him defending filmmaker Roman Polanski in a radio interview, which he's since apologised for.

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Katie O'Malley is the Site Director on ELLE UK. On a daily basis you’ll find Katie managing all digital workflow, editing site, video and newsletter content, liaising with commercial and sales teams on new partnerships and deals (eg Nike, Tiffany & Co., Cartier etc), implementing new digital strategies and compiling in-depth data traffic, SEO and ecomm reports. In addition to appearing on the radio and on TV, as well as interviewing everyone from Oprah Winfrey to Rishi Sunak PM, Katie enjoys writing about lifestyle, culture, wellness, fitness, fashion, and more.