The 69-year-old, who has helmed cult biopics like "Bandit Queen", "Elizabeth" and "The Golden Age", took to Twitter on Saturday to share the news.
"Wonderful to be teaming up again with colleagues from 'Elizabeth' to shoot brilliantly written series on Shakespeare by Craig Pearce. Casting now," he tweeted.
For the project, Kapur will be collaborating with famous Australian actor-writer Craig Pearce, who co-wrote the script of films like "The Great Gatsby" and "Romeo+Juliet".