EXCLUSIVE: Leonardo DiCaprio Possibility For Baz Luhrmann's 'Great Gatsby'?

Leonardo DiCaprioWith F. Scott Fitzgerald's story "The Mysterious Case of Benjamin Button" collecting a trio of Oscars this year, picking up the writer's best-known work "The Great Gatsby" sounds like a great decision for director Baz Luhrmann. The wildly experimental filmmaker behind "Moulin Rouge!" and "Romeo + Juliet" loves period pieces, so his choice to take on the novel makes plenty of sense. But who will he snag to play the film's large-shoed roles of Nick Carraway and Jay Gatsby.

"I know where you’re going," the director responded to MTV News on the red carpet of this year's Academy Awards. The Australian-born director chuckled when asked if he would be bringing back any of his previous collaborators for "Gatsby," and DiCaprio still has that youthful look and the acting chops that could slide right into the role of Nick. For now, though, he's just concentrating on his broader vision for the movie.

"It will be a drama," Luhrmann explained, nixing the idea of turning "Gatsby" into a musical a la "Moulin Rouge!"

Elaborating on his plans, he outlined his take on he book, which centers around making the story relevant to the world's current financial crisis. Set in the 1920's when when American high society reveled in decadence, Luhrmann's case is easy to follow.

"It’s a great story," he said. "A great iconic story and if you think about it, it truly reveals the time we’re in. It might explain a bit of what we’ve been through. If you reread it now you’ll see how powerful and meaningful it is in this time."

Who do you want Luhrmann to cast as Nick Carraway and Jay Gatsby in "The Great Gatsby"? Do you think Leonardo DiCaprio would be a good pick? Share your thoughts in the comment section below!