The actor/singer is set to take on the role that Johnny Depp made famous in the 2004 film of the same name in a stage show produced by Hollywood heavyweight Harvey Weinstein.
Finding Neverland focuses on Barrie, the creator of Peter Pan, and family which became the inspiration for the beloved tale.
The project received mixed reviews at its world premiere in 2012 in England, so Weinstein decided to overhaul the show by hiring Tony-winner Diane Paulus as director and former Take That star Gary Barlow to take over the music and lyrics.
Various workshops and test runs will be held in Cambridge, Massachusetts and London this year (14), and if all goes well, Weinstein hopes to bring the production to Broadway during the 2015-16 season.
While the project marks Weinstein's first foray into a major theatre project, Morrison is no stranger to the stage. He has numerous Broadway credits to his name, including turns in Hairspray, South Pacific and 2005's The Light in the Piazza, which earned him a Tony Award nomination.