Magnussen will appear in the film based on the 1992 animated original as Prince Anders, a new character created for the remake, Entertainment Weekly reported.
Prince Anders will be the second newly created character alongside Mara, a handmaiden and friend to Princess Jasmine who will be played by Saturday Night Live alum Nasim Pedrad, noted The Hollywood Reporter.
Magnussen was last seen alongside Aubrey Plaza in Ingrid Goes West and will star in the upcoming comedy Game Night with Jason Bateman and Rachel McAdams. The 32-year-old previously portrayed a Disney prince in Into the Woods and has also starred in Bridge of Spies, The Big Short, Black Mirror, Get Shorty and The People v. O.J. Simpson.