Starring Josh Brolin as a man who is mysteriously locked away for 20 years, then suddenly and inexplicably released, Lee's remake reportedly hews closer to the 1996 manga source material that inspired Park Chan-wook's 2003 masterpiece.
The bloody remake also stars Samuel L. Jackson, Elizabeth Olsen and Sharito Copley as the film's big bad Adrien Pryce.
Before being picked up by Lee, Stephen Spielberg was attached to direct the project, which would have starred Will Smith.
"Oldboy" hits theaters in the U.S. on October 25.
Here's the film's first official trailer. (Warning: Contains violence, brief nudity)