Earlier this year the first picture of Damon in the film was released but it won't be until next March that we will get to see the movie.
The film sees Damon team up with District 9 filmmaker Neill Blomkamp in what is only his second feature film.
Speaking to Access Hollywood the actor said: "[Neill] grew up in South Africa and emigrated to Canada when he was 18... and that experience basically shaped his entire adult life.
"Going from the third world to the first world, it was something he never really got over, in a way."
"This is a movie about... it's a metaphor, but if you just look at it at face value I think it's gonna be really fun and entertaining, a lot of action."
Damon was last seen on the big screen in the charming We Bought A Zoo and he has also completed work on Promised Land.
The actor has worked on the screenplay for the movie which sees Gus Van Sant in the director's chair.
Elysium is released 1st March 2013.