The musical is based on the 1964 children's novel, by Roald Dahl. A first reading of the first act from the show was carried out in New York in May 2010, with the intention of opening in London the following year.

Officially confirmed on 18 June 2012, producers announced that the show would play the London Palladium from May 2013, with tickets going on sale in October 2012. The show is written by playwright David Greig and directed by Sam Mendes, with choreography by Peter Darling, orchestrations by Doug Besterman, set design by Mark Thompson and lighting design by Paul Pyant. Songs are taken from the 1971 film Willy Wonka & the Chocolate Factory, with new additional songs written by frequent collaborators Marc Shaiman and Scott Wittman, responsible for the musical Hairspray and NBC television series Smash.