The announcement was made Monday by producers Nelle Nugent, Steve Traxler, Kenneth Teaton, Benjamin Feldman and Doug Morris.
"I could not be more excited to take on such a complex and fascinating role for my return to Broadway," Owen said in a statement. "M. Butterfly offers a novel challenge with its inherent mystery and astonishing storyline. I'm looking forward to diving into the mind of Rene Gallimard and I can think of no one better than the brilliant Julie Taymor to bring this wonderful, daring, original play to life."
The Knick, Elizabeth, Closer and Sin CIty star was last seen on Broadway in 2015's Old Times.
"M. Butterfly is like a Chinese puzzle, with layer upon layer of meaning; the more deeply you explore it, the more its essence is revealed," explained Taymor. "The fact that David was excited to revisit his characters and further develop their stories proves what a brave and inquisitive writer he is. Collaborating with him on the text of this fascinating story has been a joy, and this version is proving to be a true metamorphosis. And to have this complex character brought to life by Clive Owen, an actor I've wanted to work with for many years, is an extraordinary opportunity. We're very excited to get into the rehearsal room and share this production with audiences."
"Almost 30 years have passed since I read the newspaper article that inspired me to write M. Butterfly," said Hwang. "Julie's suggestion to look at the wealth of new information about the real affair between Bernard Boursicot and Shi Pei Pu that has surfaced since the show's premiere helped to unlock new possibilities within the play. I'm thrilled with this opportunity to revisit these characters -- their motivations and their personal and political deceptions -- to more fully explore this extraordinary love affair."