Is there any role actor Joseph Gordon-Levitt cannot do? The charismatic star undoubtedly has the magic touch for taking on varying roles in big-hit movies such as 500 Days of Summer, The Dark Knight Rises, and Inception.

Now, he is not only going to star in the live action movie Fraggle Rock but will also be producing the movie for New Regency, The Henson Co., and Lisa Henson, according to Variety.

Fraggle Rock is a big screen adaptation of the musical puppet series, which was created by the late Jim Henson. The movie has actually been in the development stage for nearly a decade, but now that Gordon-Levitt has signed on it, the movie got a sudden boost.

The project made its debut on television in 1983, and was co-produced by British television company Television South, the Canadian Broadcasting Corp., HBO and Henson Associates.

Its story is about a group of adventurous and lovable creatures called Fraggles who constantly have to deal with interruptions from the Doozers and furry giants Gorgs.

Gordon-Levitt admitted that he is a huge fan of Henson's creations and that he is extremely excited to work on Fraggle Rock.

"The first screen personas I ever loved were Henson creations, first on 'Sesame Street,' and then on 'Fraggle Rock,'" Gordon-Levitt said. "Jim Henson's characters make you laugh and sing, but they're also layered, surprising, and wise."

Some of the actor's favourite characters are Oscar the Grouch, Yoda, and the Fraggles.

"I've never stopped loving his work, even as a young frisky man, and on into adulthood. Collaborating with Lisa Henson makes me confident we can do something that Jim would have loved. I'm grateful and excited to be working with New Regency on this project," he said.

Aside from Fraggle Rock, Gordon-Levitt is also working on Oliver Stone's thriller Snowden which is based on the life of whistleblower Edward Snowden. He will star in the movie alongside Divergent actress Shailene Woodley and Nicolas Cage. Snowden has been set for release on December 25, 2015.

The busy actor will also be making waves in the small screen as he hosts "Hit Record on TV With Joseph Gordon-Levitt," for its second season premiere on June 12.

Other movies lined up for Gordon-Levitt includen Robert Zemeckis' The Walk, where he will play Philippe Petit. He will also star in a yet untitled Christmas comedy with Seth Rogen, Anthony Mackie, Lizzy Caplan, and Jillian Bell.