The uber successful actor-director duo are teaming up for the pitch "Roosevelt" and have a first-look deal with Paramount Pictures, reported Variety.
DiCaprio and Scorsese will also serve as producers on the film penned by Scott Bloom.
They are currently developing a handful of titles, including "The Devil in the White City" and "Killers of the Flower Moon".
DiCaprio and Scorsese last worked together in "The Wolf of Wall Street" (2013).
Their previous collaborations include "Gangs of New York" (2002), "The Aviator" (2005), "The Departed" (2006) and "Shutter Island" (2010).
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