There’s joy in East Egg today: Baz Luhrmann has settled on British star Carey Mulligan to take the coveted role of Daisy Buchanan in the director’s adaptation of F. Scott Fitzgerald’s classic ‘The Great Gatsby.’

Until recently, a bevy of young actresses were queuing up to test for the role, a lineup that included Keira Knightley, Amanda Seyfried, Blake Lively, Natalie Portman and Rebecca Hall. According to Deadline, which broke the story, Luhrmann broke the news to Mulligan shortly after he showed her audition footage to Sony Pictures Entertainment executives Amy Pascal and Doug Belgrad.

In a statement to Deadline, Luhrmann said, “I was thrilled to pick up the phone an hour ago to the young Oscar-nominated British actress Carey Mulligan and say to her: ‘Hello, Daisy Buchanan.’ ”

Casting for the film, which is tentatively scheduled for a 2012 release, includes Leonardo DiCaprio as Jay Gatsby and Tobey Maguire as Nick Carraway, who narrates the tale. Still not cast are Daisy’s husband Tom, their social companion Jordan Baker, Tom’s mistress Myrtle Wilson and her gas station owner husband George.