The 'Love Actually' actor will star alongside Aaron Eckhart as the titular character in the forthcoming movie, and is set to play a demon prince who hopes to unlock the secret of his creation so they can make an army of un-dead corpses.
Socratis Otto has also agreed to take part as his evil henchman.
Shooting on the movie is set to begin in Australia in January 2012, and Stuart will also be directing the project.
Commenting on the film previously, he told Variety: "Mary Shelley's story is about the creation of the first human being. This is the story about that being becoming human."
Bill is set to star in a number of big movies in the near future, including an adaptation of classic children's tale 'Jack and the Beanstalk' and a remake of 'Total Recall'.