Fry will be playing evil Professor Mildeye, while Wood is signed on play Grandma Driver, who wants to remove the Borrowers from her house. Eccleston will star as Homily, the father of teenage Borrower Arrietty.
Robert Sheehan (of Misfits fame) will also star as tearaway Spiller, a young borrower who takes a shine to Arrietty Clock, who will be played by Aisling Loftus.
The Borrowers is a series of novels by Mary Norton about “little people” who live under the floorboards.
On the BBC’s website, Ben Stephenson, controller of BBC drama commissioning, described the adaptation as “a brilliant and bold contemporary version of this classic tale with all the charm of the original but with a thrilling, moving and modern sensibility.”