To be directed by "Sister Act 2" helmer Duke, the untitled project will focus on Louis' historic two fights with German boxer Max Schmeling, reported Variety.
Their two fights happened in Yankee Stadium.
Schmeling handed Louis his first loss in their first fight in 1936; Louis knocked out Schmeling in the first round of their rematch in 1938.
The producers have signed a deal with rights holders Fran Kirmser and Tony Ponturo of Kirmser Ponturo Group.
Joe Louis Barrow II, the son of the fighter, signed his father's life rights to Kirmser Ponturo Group in 2013 and will also produce.
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