It's not a surprise to anyone who's been following the Marvel Cinematic Universe, but Guardians of the Galaxy will be a live-action film with CG-animated elements, just like all the rest of the movies set in the MCU.
SciFi Now Magazine, though, had erroneously reported it as an animated feature and, thanks to the magic of the Internet, that rumor was making the rounds all today yesterday. The quote from the magazine, according to Comic Book Resources, is as follows:
"'Guardians of the Galaxy,' an animated offering starring little-known cosmic characters like Star-Lord and Rocket Raccoon and helmed by 'Super' and 'Slither" director James Gunn, will probably explore Thanos more -- defending the universe being their whole raison d'etre, after all. How an animated movie from a director known for subversive comedy and horror will neatly gel with the live-action movies is an obvious challenge, but it's not the only one."CBR
reportedly reached out to Marvel to confirm the report, and instead came away with confirmation instead that the film is NOT animated.
Directed by Slither and Super helmer James Gunn, Guardians of the Galaxy is set for an August 2014 release date.