The untitled film explores the life and career of late rock and roll legend Elvis Presley. Austin Butler stars as Presley, with Hanks as Presley's manager Colonel Tom Parker.
"We're back to, as Elvis liked to say, 'taking care of business!' It is a real privilege in this unprecedented global moment that Tom Hanks has been able to return to Australia to join Austin Butler and all of our extraordinary cast and crew to commence production on Elvis," Luhrmann said in a statement.
"I cannot emphasize enough how lucky we feel in the current climate that the state of Queensland, and Queenslanders in general, have been so supportive of this film," he added. "We are all excited to start working with Tom Hanks when he is out of quarantine in two weeks."
Luhrmann shared photos from the Elvis set Wednesday on Instagram.
"Welcome back cast and crew. 'Taking care of Business' in the wonderful State of Queensland," he captioned the post.