The new release date will make the movie eligible to compete in this year's Oscars as January 13 is the last day that voters can submit their nominations for the 2017 Academy Awards, according to The Hollywood Reporter.
According to sources, the studio decided to move up the movie's release after seeing an early cut of the film.
The new date also puts the movie up against "Fences", "Gold" and "Why Him?" at the box-office release.
Based on Dennis Lehane's award-winning and best-selling novel, "Live by Night" follows Affleck's Joe, a man who turned his back on his strict and proper upbringing and becomes an outlaw.
He embarks on a dizzying journey up the ladder of organized crime that takes him from the flash of Jazz Age Boston to the sensual shimmer of Tampa's Latin Quarter to the sizzling streets of Cuba.
Directed, written and produced by Affleck, "Live by Night" also stars Brendan Gleeson and Scott Eastwood who portray Thomas and Danny Coughlin respectively.
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