Carey Mulligan Cast in Baz Luhrmann's "Great Gatsby"

Carey Mulligan, photographed by Baz Luhrmann, auditioning for the role of Daisy Buchanan in "The Great Gatsby" on Nov. 2, 2010, in New York.
Carey Mulligan is photographed auditioning for the role of Daisy Buchanan in "The Great Gatsby" on Nov. 2, 2010, in New York.
Baz Luhrmann/Bazmark

NEW YORK (CBS) Baz Lurhmann has decided who will play Daisy Buchanan in "The Great Gatsby" - Carey Mulligan.

The Australian director ("Moulin Rouge," "Romeo + Juliet") has officially given the British Oscar nominee the female lead in his adaptation of F. Scott Fitzgerald's novel.

PICTURES: Carey Mulligan

Leonardo DiCaprio is set to play Jay Gatsby, while Toby Maguire is expected to take on the role of narrator Nick Carraway.

"The results from the workshop process on 'The Great Gatsby' have been very encouraging," Luhrmann wrote on his website Monday. "There are a few elements that I feel need to be resolved before I would categorically state that this is my next film."

He continued: "Regarding the role of Daisy Buchanan, I was privileged to explore the character with some of the world's most talented actresses, each one bringing their own particular interpretation. However, specific to this particular production of F. Scott Fitzgerald's novel, I was thrilled to pick up the phone an hour ago to the young Oscar-nominated British actress Carey Mulligan and say to her: "'Hello, Daisy Buchanan.'" reports that Mulligan got that call while she was attending The Fashion Council Awards in New York, and the 25-year-old burst into tears on the red carpet in front of fashion icon Karl Lagerfield and Vogue editor-in-chief Anna Wintour.

According to the report, this all occurred shortly after Luhrmann showed Mulligan's audition footage to Sony Pictures Entertainment execs Amy Pascal and Doug Belgrad, who were impressed by her command of the character.

Other actresses who were considered for the role included Blake Lively, Keira Knightley, Abbie Cornish, Rebecca Hall, Michelle Williams and Scarlett Johansson.