Chris Weitz is directing the story of the capture of Nazi Adolf Eichmann, according to The Hollywood Reporter.
Ben Kingsley is set to star as Eichmann, while Raz will portray Isser Harel, the director of Mossad who allows Isaac's character, Peter Malkin, to lead the Argentina mission.
Matthew Orton wrote the original screenplay.
Brian Kavanaugh-Jones and Fred Berger are producing the project which is expected to begin in Argentina later this year.
Raz is also gearing up for his English-language debut with the upcoming "Mary Magdalene", which stars Rooney Mara and Joaquin Phoenix.
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