The Weinstein Company is also eyeing director Laurence Fishburne to helm the long-gestating project, reported Deadline.
"The Alchemist" centres on a young Spaniard who embarks on a quest to find a hidden treasure within the Egyptian pyramids.
No deals have closed yet, but this is said to be a passion project for both producer Harvey Weinstein and Fishburne. The production house is hoping to get this in front of cameras in 2016.
Coelho's book is something of a publishing sensation, having sold more than 65 million copies in 56 different languages.
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