The film is based on the iconic Japanese monster and will be directed by Brit Gareth Edwards (Monsters).
Godzilla has had a number of big names linked to the lead role in recent weeks including Joseph Gordon-Levitt and Henry Cavill.
Taylor-Johnson is said to be the front runner, but he won't make a final decision until Frank Darabont finishes his re-write of the script.
Aaron Taylor-Johnson recently reprised his role in Kick Ass 2 (read our complete guide) and looks set to have a busy year.
Godzilla is due to begin production in March 2013 with a scheduled release date of 16 May 2014. This has 'summer blockbuster' bitten right into it!
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