The project -- which Beyonce wrote, directed and produced -- is based on her album, The Lion King: The Gift.
A press release from Disney and Parkwood Entertainment said the film "reimagines the lessons of The Lion King for today's young kings and queens in search of their own crowns."
"Black Is King is a celebratory memoir for the world on the Black experience," the statement said.
"The film is a story for the ages that informs and rebuilds the present. A reunion of cultures and shared generational beliefs. A story of how the people left most broken have an extraordinary gift and a purposeful future."
A minute-long teaser for Black is King can now be seen on the entertainer's website.
Beyonce released a new single called, "Black Parade," last week. She is scheduled to be honored for her humanitarian work at the BET Awards ceremony on Sunday night.
She lent her voice to the lioness character of Nala in the animated remake of The Lion King last year.