Smith had been rumoured for weeks to be taking the role made famous by Robin Williams in the original 1992 cartoon.
His casting was officially confirmed at the Disney D23 Expo in California today.
At the Live panel announcing the upcoming roster of Disney movies and remakes, the full main Aladdin trio was revealed.
Btritisg pop fans had been hoping that Little Mix star Jade Thirwall would be stepping into the role of Jasmine.
The movie will be directed by Guy Ritchie but he has selected a different rising star from the UK.
London lass Naomi Scott has just been seen on the big screen as the Pink Ranger in Power Rangers.
Now she will be playing the feisty Arabian princess who makes Aladdin fight for her hand in marriage.
Another up and coming young actor will play Aladdin himself.
Mena Massoud is about to star in the upcoming Jack Ryan TV series but will become a major global heartthrob when he steps into the iconic Disney hero role.
After appearing in numerous TV shows like The 99, Saving Hope and Open Heart, tis will be his first major big screen role.
It really will be a Whole New World for the rising star.