Gilliam first tried to shoot the film nearly a decade ago, but the production was sidelined by weather and budget woes, as well as an ailing leading man. The setbacks were chronicled in a popular documentary called "Lost in La Mancha."
The Hollywood Reporter said Gilliam, a former Monty Python comedy troupe member, has joined forces with British producer Jeremy Thomas and British screenwriter Tony Grisoni to try again to make "The Man Who Killed Don Quixote."
"Nearly 10 years on, I find myself lending a hand to get that crazed, giggling bedlamite back in the saddle. I'm talking about Don Quixote. In spite of God and the devil, he shall ride again," Grisoni, who co-wrote "Fear and Loathing in Las Vegas" and "Tideland" with Gilliam, told the entertainment industry trade newspaper at France's Cannes film festival.