Leonardo DiCaprio and Carrie Mulligan star in 'The Great Gatsby,' a contender at Cannes this year.

Leonardo DiCaprio and Carey Mulligan star in ‘The Great Gatsby,’ a contender at Cannes this year.

Baz Luhrmann’s remake of “The Great Gatsby,” starring Leonardo DiCaprio, Tobey Maguire, Carey Mulligan, Joel Edgerton, Isla Fisher and Jason Clarke will open the Cannes Film Festival this year and compete for the top prize.

“Behind the Candelabra,” starring Michael Douglas and Matt Damon, and “Inside Llewyn Davis,” from Joel and Ethan Coen are also among the American entries for the coveted Palme d’Or award.

The prestigious event, slated for May 15 to May 26, will play host to filmmakers and stars from around the world. More than 1,800 films were submitted for consideration, according to artistic director Thierry Fremaux.

The festival unveiled the film lineup on the Champs-Elysees in Paris today (Apr. 18). A huge video screen featuring Paul Newman and Joanne Woodward in a classic scene from one of their movies, provided the backdrop. They will be honored at this year’s event.

The Palme d’Or is the festival’s top award, and winning it can mean huge returns at the box office. In all, 19 films will be competing, include U.S. fugitive Roman Polanski’s French-language film “Venus in Fur,” starring wife Emmanuelle Seigner.

“Only God Forgives,” Ryan Gosling’s second film with “Drive” director Nicolas Winding Refn, is also in the running. Gosling co-stars with Kristin Scott Thomas, as part of a Bangkok crime ring.

Also of note, “The Bling Ring,” directed by Sofia Coppola and starring Emma Watson, will open the competition on May 16 for the “Un Certain Regard” prize.

“Zulu,” an action-thriller shot on location in South Africa starring Orlando Bloom and Forest Whitaker, will close the festival, but will not compete for the Palme d’Or, according to the organization.

Director Steven Spielberg, who has won two Academy Awards for Best Director, will lead the jury. Check out the Great Gatsby trailer below. For the latest updates on the festival, be sure to follow TheImproper on Twitter.