Taylor-Johnson is best known for directing the John Lennon bio-picture "Nowhere Boy."
"I am excited to be charged with the evolution of 'Fifty Shades of Grey' from page to screen," Taylor-Johnson said in a statement Wednesday. "For the legions of fans, I want to say that I will honor the power of [E.L. James'] book and the characters of Christian and Anastasia. They are under my skin too."
EW.com said no casting has been announced yet, but the film is expected to be released next year.
Notable deaths of 2014 [PHOTOS]