Also new to the project's cast are Emmanuelle Seigner and Elsa Pataky.
In addition to starring, Brody will also executive produce the English-language film, which will begin production on May 12 in Torino, Italy working from a script by Jim Agnew and Sean Keller.
According to The Hollywood Reporter, the project focuses on an American flight attendant searching for her sister with the help of an Italian investigator. They soon come to believe that she's been taken by a serial killer who goes by the name of Yellow.
That means, of course, that the film's title has a slew of meanings. Not only does "giallo" mean "yellow" in Italian, but it refers to a subset of Italian genre fiction that has been expanded to include crime thrillers, horror and erotica over the years.
Argento has long been considered one of the titans of the cinematic giallo, with classics including "The Bird with the Crystal Plumage," "Suspiria" and "Tenebre" under his belt. While Argento doesn't normally find himself working with Oscar winners, fans will be quick to note that a young Jennifer Connelly starred in the buggy favorite "Phenomena."
Brody was most recently seen in "The Darjeeling Limited" and "Hollywoodland," while "The Brothers Bloom" is headed to theaters this fall.
Seigner last co-starred in the Oscar nominated "The Diving Bell and the Butterfly," while Pataky co-starred in a little film called "Snakes on a Plane."