Sony Pictures announced on Thursday that Garfield will fill the title role in director Marc Webb's reboot of the Marvel Comics movie franchise.
"Though his name may be new to many, those who know this young actor's work understand his extraordinary talents," Webb said.
"He has a rare combination of intelligence, wit and humanity. Mark my words, you will love Andrew Garfield as Peter Parker."
Producer Avi Arad added: "I'm incredibly excited about Andrew Garfield. In the Spider-Man tradition, we were looking for a smart, sensitive, and cool new Peter Parker who can inspire us and make us laugh, cry, and cheer.
"We believe we have found the perfect choice to take on this role and lead us into the future."
The 26-year-old won a BAFTA in 2008 for his role in drama Boy A. He has also appeared in Red Riding and Terry Gilliam's The Imaginarium Of Doctor Parnassus. His upcoming movies include Never Let Me Go and The Social Network.
Garfield will succeed Tobey Maguire, who portrayed Parker in the first three films.
Spider-Man will be shot in 3D and is scheduled for a July 2012 release.
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