Speaking about the film, Lohan said in a statement, "I have always admired and had enormous respect for Elizabeth Taylor. She was not only an incredible actress but an amazing woman as well. I am very honoured to have been asked to play this role".
So we're guessing that Lohan is pretty pleased with landing the coveted part. In fact, she's already getting into character.
Soon after the news broke, Lohan took to Twitter to change her profile image to a picture of herself, doing her best Liz Taylor impression.
She's got the brunette curls sorted, now there's just the small matter of finding an actor to play the part of Richard Burton...
Let us know how you rate Lindsay's Liz look and see more of the star in her style evolution below.