This is according to a Hollywood trade publication.

After purchasing Star Wars creator George Lucas's Lucasfilm for $4 billion in October, Disney announced it was planning a new trilogy in the wildly popular sci-fi saga, which has raked in an estimated $4.4 billion since 1977.

Variety magazine said Disney is close to finalising the deal with the 46-year-old Abrams, the co-creator of the popular television series Lost, who is currently finishing work on Star Trek Into Darkness.

Abrams, who also writes and produces, directed Mission: Impossible III (2006), Star Trek (2009) and Super 8 (2011).

Lucas - who created the saga and directed four of the six films to date - will serve as a creative consultant for the three new films, which are expected to come out every two to three years.

Lucas's original Star Wars movie in 1977, which marked the birth of a new era of blockbuster cinema, launched the career of a young Harrison Ford.

It was soon followed by the equally popular The Empire Strikes Back (1980) and Return of the Jedi (1983).

In the late 1990s, Lucas drew mixed reviews when he resurrected the blockbuster series with a prequel trilogy: The Phantom Menace (1999), The Attack of the Clones (2002) and The Revenge of the Sith (2005).

The newer trilogy featured Liam Neeson, Ewan McGregor, Natalie Portman and Hayden Christensen.