Jaden Smith

Move over Ralph Macchio: Will Smith's 10-year-old son Jaden will "wax on, wax off" as the star of a new Karate Kid remake.

The film will be produced by Jerry Weintraub (who launched the original film franchise), Overbrook Entertainment's James Lassiter, Will Smith and Ken Stovitz, and the script is being written by Chris Murphy, reports Variety.

This will be the first star vehicle for the young Smith. The new film will be set in Beijing and filmed in other exotic locations, and will borrow elements of the original plot about a bullied youth who learns to stand up for himself with the help of an eccentric mentor.

Jaden made his film debut alongside dad Will in The Pursuit of Happynes in 2006, and will be seen next alongside Keanu Reeves and Jennifer Connelly in The Day the Earth Stood Still.

OK, original Karate Kid fans — let's put our heads together and think of the perfect person to take over where Pat Morita left off. (Insert crane kick at sunset here.)