The "Birdman" actor will be playing the role of Andy Goodrich, who seeks help form his adult daughter to raise his young twins after his second wife abandons him.
The screenplay was also penned by Meyers-Shyer, who is also producing the project alongside Amy Pascal and Keaton.
According to The Hollywood Reporter, the shooting of the film is scheduled to start later this year.
Keaton was last seen in the animated movie, "Dumbo," directed by Tim Burton.
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