Andrew Niccol will write the screenplay for the big-screen adaptation, said the Hollywood Reporter.
The popular Hasbro property and long-gestating project most recently had been in development with Emmett/Furla Films but has now moved to Lionsgate, which will finance the movie.
"Hasbro is a partner with incredible global reach, one of the most compelling brand portfolios in the world, and a signature brand in Monopoly that has multigenerational appeal," Lionsgate motion picture group co-president Erik Feig said.
"Andrew Niccol is the ultimate world creator... He is an inspired choice to develop this timeless property into a big, crowd-pleasing event film that will appeal to kids, families and anyone who has ever played the Monopoly game."
Monopoly has been played by more than 1 billion people in 114 countries and has been translated into 47 different languages, according to Hasbro.
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