The film, an origin tale on the boy who never grew up, also will star Hugh Jackman and Garrett Hedlund.
Mara is in talks to play Tiger Lily in the film, being directed by 'Atonement' helmer Joe Wright from a script by Jason Fuchs, said the Hollywood Reporter.
Jackman will play the main villain in the story as Blackbeard while Hedlund will take on the role of Hook in the film.
The story, a reimagining of author J M Barrie's story, will revolve around a young orphan boy from London who is spirited away to the magical Neverland. There, he faces off against Blackbeard.
Mara is currently shooting lesbian drama 'Carol' with Oscar-winner Cate Blanchett.
She was last seen in Spike Jonze's futuristic romance 'Her'.