The 'Barbie' franchise is to be made into a live action film, starring Australian actress Margot Robbie.

The Academy Award-nominee will play the doll character and also co-produce the film.

The deal is the first announced by Mattel Films, a new division of the toy company which makes the famous doll.

Mattel first introduced the iconic teenage-fashion doll at the New York Toy Fair in March 1959.

Created by Ruth Handler, she named it after her daughter after observing her playing with paper dolls.

The doll will mark its 60th anniversary this year.

Having gone through several changes and re-imaginings over the years, Barbie was unveiled wearing a hijab for the first time in 2017.

Ruth and Elliot Handler are seen with Barbie | Image: © 2019 Mattel

On her new role, Robbie said: "Playing with Barbie promotes confidence, curiosity and communication throughout a child's journey to self-discovery.

"Over the brand's almost 60 years, Barbie has empowered kids to imagine themselves in aspirational roles from a princess to president.

"I'm so honoured to take on this role and produce a film that I believe will have a tremendously positive impact on children and audiences worldwide."

Robbie has most recently starred alongside Irish actress Saoirse Ronan in 'Mary Queen of Scots'.

Ynon Kreiz is chairman and CEO of Mattel: "Barbie is one of the most iconic franchises in the world and we are excited to partner with Warner Bros Pictures and Margot Robbie to bring her to life on the big screen.

"We look forward to building on this collaboration with Warner Bros Pictures as we tell the stories of our beloved brands."

Further details about the film have not been released.