On the occasion of Ranveer's birthday on Tuesday, Karan took to Instagram and shared the news.
"Thrilled to get behind the lens with my favourite people in front of it. Presenting 'Rocky Aur Rani Ki Prem Kahani', headlined by none other than Ranveer Singh and Alia Bhatt," he wrote.
The movie, which will release in 2022, is written by Ishita Moitra, Shashank Khaitan and Sumit Roy.
Along with it, KJo also unveiled the motion poster of 'Rocky Aur Rani Ki Prem Kahani'.
Alia and Ranveer, too, shared the same news on their respective Instagram handles.
"An exceptional love story with my favourite people," Alia wrote.
The birthday boy is extremely excited about the new film.
"A special announcement on my special day! Presenting - Rocky Aur Rani Ki Prem Kahani along with my dazzling supernova Alia Bhatt, directed by the genre himself, kaleidoscopic visionary Karan Johar, and written by Ishita Moitra, Shashank Khaitan & Sumit Roy. Coming to charm you in 2022," Ranveer posted.
Karan's last directorial venture for the big screen was 'Ae Dil Hai Mushkil', which hit the theatres back in 2016. The movie starred actors Anushka Sharma, Ranbir Kapoor, Aishwarya Rai Bachchan and Fawad Khan.
After that, he helmed Netflix's anthologies 'Lust Stories' (2018) and 'Ghost Stories' (2020).
Apart from 'Rocky Aur Rani Ki Prem Kahani', Karan also has 'Takht' in his kitty.
Apart from his directorial stints, the filmmaker also has a number of production ventures in the pipeline.
Karan is also set to launch South sensation Vijay Deverakonda in Bollywood with 'Liger', which stars Ananya Panday as the leading lady.