Willow Smith, daughter of Will Smith, arrives at the "Hancock"...

Willow Smith, daughter of Will Smith, arrives at the "Hancock" premiere. (Jan. 30, 2008) Credit: AP

Another child of Will and Jada Pinkett Smith is set to star in the remake of a Hollywood classic.

Willow Smith, 10, is set to play the title role in "Annie."

The film is being developed by Overbrook Entertainment, which the Smiths co-own, along with Shawn "Jay-Z" Carter and Sony Pictures, The Associated Press reports.

Last year, Jaden Smith, 12, starred in a remake of "The Karate Kid," which raked in $343 million worldwide.

Sony's Columbia Pictures first brought "Annie" to theaters in 1982.

The movie was based on the Broadway musical in which an orphan's life is transformed when she goes to live with the wealthy industrialist Oliver "Daddy" Warbucks.

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