The director is currently shooting 'Mohenjo Daro', starring Hrithik Roshan and Pooja Hegde.
A source confirmed that the 51-year-old "Swades" director will helm the adaptation after he wraps up the period love story, scheduled to release on August 12 next year.
"Yes, Ashutosh is doing the adaptation of 'Snow White and the Seven Dwarfs'. He is currently busy with "Mohenjo Daro" after which he will start working on the adaptation. He will make an announcement soon," the source said.
Gowariker has previously helmed movies with a historical bend, including 'Lagaan', 'Jodhaa Akbar' and 'Khelein Hum Jee Jaan Sey'. The adaptation of the fairy tale, however, will have a modern-day twist.
The much-loved fairy tale chronicled the story of Snow White, whose jealous stepmother and Queen orders for her murder. She later discovers that Snow White is still alive and is hiding in a cottage with seven friendly little miners.
Disguising herself, the queen brings a poisoned apple to Snow White, who, after eating it, falls into a death-like sleep that can be broken only by a kiss from a prince.