"Epic" will center on a teen girl who is magically sent to a fantasy forest where good and evil are locked in a seemingly endless battle. She is charged with saving the forest, with help from a disparate group of odd creatures.
Beyonce's character is named "Queen Tara," while Farrell plays "Ronin" and Hutcherson stars as "Nod."
The 20th Century Fox Animation and Blue Sky Studios co-production will be directed by Chris Wedge ("Ice Age").
According to Deadline, who broke the story, Amanda Seyfried, Johnny Knoxville, Aziz Ansari, rapper Pitbull and Jason Sudeikis will also lend their pipes to the film.
"Epic" is scheduled for release May 24, 2013.
Farrell, recently seen in "Fright Night" just signed on to star opposite Noomi Rapace ("Prometheus") in "Dead Man Down," a new thriller which will reunite Rapace with her 'Girl With the Dragon Tattoo" helmer, Niels Arden Oplev.
Beyonce last appeared on the big screen in 2009's "Obsessed," and has been attached to Clint Eastwood's new take on "A Star is Born" for some time.