Polanski, whose last film, the haunting World War II drama "The Pianist," was an Oscar winner, said he is ready to make something happier, Empire Magazine said on its Web site Tuesday.
"I want to make a film for children, in particular my own children, who deserve it. It is going to be colorful and not dark as 'The Pianist' was," Polanski said.
Polanski already has cast Oscar award winner Ben Kingsley as Fagin and 10-year-old British actor Barney Clark in the title role. Jamie Foreman will play Bill Sykes and Frank Finlay has been cast as Mr. Brownlow.
Filming, which is scheduled to last four months, is set to begin in July.