Watch: First trailer for Martin Scorsese's new Netflix film The Irishman

Ray Ramano (Bill Bufalino ) Al Pacino (Jimmy Hoffa) and Robert De Niro (Frank Sheeran) in The Irishman. Photo / Supplied.

Mob movie fans rejoice - Robert De Niro, Al Pacino and Joe Pesci are teaming up to star in Martin Scorsese's Netflix film The Irishman.

The trailer for the epic saga of organised crime in post-war America was released today and looks like it ticks all the boxes for fans of classic gangster films such as The Godfather, Goodfellas and Casino.

The Irishman's story is told through the eyes of De Niro's character, World War II veteran Frank Sheeran, a union leader and hustler and hitman who worked for the Bufalino crime family.

Based on the book I Heard You Paint Houses by Charles Brandt, the movie chronicles one of the greatest unsolved mysteries in American history, the disappearance of Pacino's character, legendary union boss Jimmy Hoffa.

Spanning decades, the film explores the hidden corridors of organised crime - its inner workings, rivalries and connections to mainstream politics.

Joe Pesci, left, and Robert De Niro in a scene from The Irishman. Photo / Supplied.

The Irishman reportedly cost Netflix $190 million ($US125 million) after it won a bidding war for the rights. The Irishman is expected to be the streaming service's big Oscar play this year.

The project is the first collaboration between Scorsese and De Niro in almost 25 years – since 1995's Casino – and is their ninth film together following the likes of Mean Streets, Taxi Driver, Raging Bull, and GoodFellas.

The Irishman also reacquaints Scorsese with Pesci, who played unforgettable supporting roles to De Niro in Raging Bull and Goodfellas, and fellow co-star Harvey Keitel who worked together with De Niro under Scorsese in Mean Streets and Taxi Driver.

Ray Ramano (Bill Bufalino ) Al Pacino (Jimmy Hoffa) and Robert De Niro (Frank Sheeran) in The Irishman. Photo / Supplied.

Surprisingly, The Irishman marks the first time Pacino has starred in a Scorsese movie, while it is his third movie co-starring with De Niro, following Heat (1995) and Righteous Kill (2008).

Ray Romano, Bobby Cannavale, and Kiwi actress Anna Paquin also co-star in the film, which is scheduled to arrive in cinemas and on Netflix later this year.