Australian director Baz Luhrmann will bring his film The Great Gatsby to headline the 66th annual Cannes Film Festival on May 15, organizers announced Tuesday.

The film was originally scheduled to be released in theaters during the 2012 holiday season but was delayed so that Luhrmann could complete work on the film, according to MTV News. The movie stars Leonardo DiCaprio as the iconic character from F. Scott Fitzgerald's novel, Jay Gatsby, and Carey Mulligan plays his lost love Daisy.

Gatsby also stars Toby Maguire as narrator Nick Carraway, Joel Edgerton and Jason Clarke. Luhrmann said the following in a statement:

"We are thrilled to return to a country, place and festival that has always been so close to our hearts, not only because my first film Strictly Ballroom was screened there 21 years ago but also because F. Scott Fitzgerald wrote some of the most poignant and beautiful passages of his extraordinary novel just a short distance away at a villa outside St. Raphael."

The film will premiere in 3-D.

Luhrmann directed DiCaprio in the 1996 film Romeo + Juliet, in which the actor had the lead role and starred alongside Claire Danes. He also was the visionary behind Moulin Rouge! and Australia.

The Cannes Film Festival runs from May 15 to 26 and U.S. director Steven Spielberg is head of this year's jury. The 66-year-old director had several films that appeared at Cannes. Spielberg's first film, Sugarland Express, won best screenplay at Cannes in 1974 and the classic E.T. had its world premiere there in 1982, according to The New York Times.

Last year's winner of the coveted Palme d'Or for best picture was Austrian filmmaker Michael Haneke for the drama Amour.