The Oscar-winning star will play an aging actor in what's been described as a Pulp Fiction-esque film, Deadline reported.
Sony Pictures won the rights to the film, which already has a release date set for August 9, 2019.
According to reports, Tarantino asked DiCaprio's 'Wolf of Wall Street' co-star, Margot Robbie, to star as Tate.
The film will mark DiCaprio's first since his Oscar-winning role in 'The Revenant'.
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