Here's what to know about the actor who will play the King:

Butler beat out names like Ansel Elgort, Miles Teller and Harry Styles, who were also rumored to be in the running for the role

In a statement to Deadline, Luhrmann opened up on the casting process for the role.

\"I knew I couldn’t make this film if the casting wasn’t absolutely right, and we searched thoroughly for an actor with the ability to evoke the singular natural movement and vocal qualities of this peerless star, but also the inner vulnerability of the artist,\" he said.

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A post shared by Baz Luhrmann (@bazluhrmann) on Apr 29, 2019 at 5:48pm PDT

\"Throughout the casting process, it was an honor for me to encounter such a vast array of talent,\" he continued.

\"I had heard about Austin Butler from his stand-out role opposite Denzel Washington in 'The Iceman Cometh' on Broadway, and through a journey of extensive screen testing and music and performance workshops, I knew unequivocally that I had found someone who could embody the spirit of one of the world’s most iconic musical figures,\" Luhrmann said.

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➡️

A post shared by Baz Luhrmann (@bazluhrmann) on Jul 15, 2019 at 8:56am PDT

Butler shared the exciting announcement on his Instagram page, making his caption a lyric to the King's 1956 hit \"Love Me Tender.\"

“You have made my life complete, and I love you so,\" he wrote.

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“You have made my life complete, and I love you so\"

A post shared by Austin Butler (@austinbutler) on Jul 15, 2019 at 12:00pm PDT

Butler's longtime girlfriend Vanessa Hudgens couldn't be more excited

Butler has reportedly been dating actress Vanessa Hudgens since 2012. She expressed how thrilled she is for him to land the leading role in an Instagram post.

\"I AMMMM OVERRRR THE F------ MOOOOOOOOONNNNN,\" she wrote. \"I CANT WAIT 😍😍😍😍😍😍 SO PROUD OF MY HONEYYYYY!!!\"

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A post shared by Vanessa Hudgens (@vanessahudgens) on Jun 11, 2019 at 8:44am PDT

Many of the couple's friends commented with congratulatory remarks on her post.

\"He deserves this!!! I’m so proud to see him doing what he loves to do! He’s so inspiring!!\" actress Ashley Tisdale wrote. \"So so so amazing!!! Congrats!!!\" Lily Collins added.

Butler's recent Broadway performance impressed Luhrmann -- but it's not his first time on the stage

The actor made his Broadway debut in 2014 in \"Death of the Author\" but starred more recently in the revival of Eugene O’Neill’s \"The Iceman Cometh,\" alongside Denzel Washington and David Morse.

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@AustinButler, aka Don Parritt, is ready for a weekend of performances. #TheIcemanComethBway

A post shared by The Iceman Cometh on Broadway (@icemancomethbwy) on Jun 8, 2018 at 10:33am PDT

He'll make an appearance in a highly anticipated summer Blockbuster

Butler will appear in Quentin Tarantino's upcoming film, \"Once Upon a Time In Hollywood,\" which premieres July 26.

https://t.co/KIeQkkqSed

— Austin Butler (@austinbutler) March 21, 2019

He portrays convicted murderer Charles \"Tex\" Watson, a member of Charles Manson's cult.

Butler will appear with a big star in the Elvis biopic

Tom Hanks will reportedly play Elvis' former manager, Colonel Tom Parker.

Not much else is known about the film, but Luhrmann continues to update his social account with research and minor updates on the project.

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I know I haven’t been active on here because I’ve had my head down, researching and exploring and absorbing the world around me. But now, because you’ve always supported us and the work, I want to invite you along on this next creative journey. Stay tuned... 🎪

A post shared by Baz Luhrmann (@bazluhrmann) on Apr 23, 2019 at 1:01pm PDT

\"I want to invite you along on this next creative journey. Stay tuned...\" he told fans in April about the film.

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