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Blake Lively. She’s the one chosen to go to the world of the Green Lantern alongside Ryan Reynolds. Warner Bros. and director Martin Campbell signed her onto the project today to play Carol Ferris, says Heat Vision.

Lively was marked by a December report as one of five ladies in the running for the role of Ferris, who runs her father’s aerospace company and hires cocky test pilot Hal Jordan (Reynolds), who later becomes an intergalactic policeman. She is an integral piece of the plot, a character who later is given the power of a crystal called the Star Sapphire.

It’s in an interesting turn for the Greg Berlanti-scripted project, after reports were saying that they were looking for an older actress to play Ferris. The decision ultimately came down to the studio being impressed with her work in the upcoming WB movie The Town, for director Ben Affleck. The Gossip Girl star may be young, but Warner Bros. sees something in her that will add to the mostly serious tone that they’re trying to achieve. Word from the inside is that Green Lantern will be tonally matched to the likes of Iron Man, giving it mainstream appeal. That wouldn’t be a terrible choice for a DC Comics property, as they’ve yet to strike the right tone with audiences in anything but Christopher Nolan’s Batman franchise.

The casting process will next turn its eye to the roles of Dr. Hector Hammond, one of the key villains, and the alien known as Sinestro. The likes of Jackie Earl Haley have already been rumored, but no deals have been signed as of yet.

Green Lantern will shoot in March in Louisiana, with a release set for June 17, 2011.

What do you think of Lively taking the female lead in Green Lantern?