Maguire will play a writer who interviews the lead character "Pi," as an adult. The former Spider-Man previously teamed with Lee in the films 'The Ice Storm' and 'Ride With the Devil.'
Filming began in India in January for a planned release date of December 2012.
In other casting news, Ben Affleck is in talks to play Tom Buchanan, philandering husband to Jay Gatsby's love Daisy (Carey Mulligan) in Baz Luhrmann's upcoming 'The Great Gatsby' remake. Maguire is set to play narrator Nick Carraway, with Leonardo DiCaprio slated to star as millionaire Jay Gatsby.
[Via Deadline, Hollywood Reporter]