Michael Dougherty (Krampus) is directing from a script he wrote with Zach Shields. The Legendary and Warner Bros. feature is the follow-up to Gareth Edwards' 2014 reboot, which earned $529.1 million worldwide.
Plot details are being kept secret, but Chandler, who has already starred in creature features Super 8 and King Kong, is the hero of the pic and plays a scientist.
Godzilla: King of the Monsters is slated for release on March 22, 2019.
Farmiga can currently be seen in the fifth and final season of A&E's Bates Motel, in which she plays the mother of iconic screen villain Norman Bates. It is a role which has earned her an Emmy nomination.
The Oscar-nominated actress, who last year reprised her role of paranormal investigator Lorraine Warren for the horror hit The Conjuring 2, will soon be seen opposite Liam Neeson in Lionsgate's action thriller, The Commuter.
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