The film is the first in a rebooted timeline which sets aside the three Tobey Maguire films and is expected to see Peter Parker developing his spidey abilities in high school.
Last month producers released the official image of Garfield donning the legendary red and blue suit.
The film is being Directed by Marc Webb from a screenplay by James Vanderbilt, Alvin Sargent and Steve Kloves based on the Marvel Comic Book by Stan Lee and Steve Ditko.
On selecting Garfield, director Marc Webb said, “Though his name may be new to many, those who know this young actor’s work understand his extraordinary talents. He has a rare combination of intelligence, wit, and humanity. Mark my words, you will love Andrew Garfield as Peter Parker.”
Garfield recently starred opposite Jesse Eisenberg and Justin Timberlake in Aaron Sorkin’s The Social Network.
The new Spider-Man, scheduled to be released in July 2012, also stars Emma Stone as Gwen Stacy, Rhys Ifans as the Lizard plus Denis Leary, Campbell Scott, Irrfan Khan, Sally Field and Martin Sheen.
An official website has also launched at TheAmazingSpiderMan-movie.com.