Disney, which owns "Star Wars" production house Lucasfilm, has a decade-long history with the 51-year-old, who has directed, produced or appeared in several superhero movies made by another of the entertainment giant's businesses, Marvel Studios.   

"I couldn't be more excited about Jon coming on board to produce and write for the new direct-to-consumer platform," said Lucasfilm president Kathleen Kennedy in a statement.

"Jon brings the perfect mix of producing and writing talent, combined with a fluency in the 'Star Wars' universe. This series will allow Jon the chance to work with a diverse group of writers and directors and give Lucasfilm the opportunity to build a robust talent base."

Read also: How Marvel, Robert Downey Jr. announced release date for ‘Infinity War’

Favreau directed and appeared in "Iron Man," the film that set the tone and began cultivating the audience for the Marvel Cinematic Universe series of films, which has made $14.4 billion worldwide.

He also directed and produced the 2016 adaptation of "The Jungle Book" and is working on a live-action version of "The Lion King."

Favreau is no stranger to the "Star Wars" galaxy either, having played roles in both the "Star Wars: The Clone Wars" animated series and in the upcoming "Solo: A Star Wars Story."

"If you told me at 11 years old that I would be getting to tell stories in the 'Star Wars' universe, I wouldn't have believed you. I can't wait to embark upon this exciting adventure," he said.

The untitled "Star Wars" live-action series does not yet have a release date but the streaming service is expected to launch by the end of 2019.

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