The actress is set to star alongside Chiwetel Ejiofor in The Secret in Their Eyes, a remake of the Oscar winning crime thriller El Secreto del Sus Ojos, E! News has confirmed.
The film marks Paltrow's first gig since her split from ex Chris Martin. The pair, who have two children together, announced their "conscious uncoupling" in late March.
IM Global will produce and finance the film, which will be shopped to foreign buyers at the upcoming Cannes Film Market.
Written and directed by Oscar nominated writer Billy Ray, The Secret in Their Eyes centers on a former MI-5 agent (Ejiofor) who is obsessed with an unsolved murder and joins the FBI in Boston in order to solve the crime. However, as he nears his goal, he uncovers a secrets that will shed a terrifying new light on past events.
Oscar and Emmy winner Mark Johnson is producing the film while IM Global founder Stuart Ford and Matt Jackson, IM Global's president of production, will serve as executive producers alongside Juan Jose Campanella, the director of the original Argentine film.
"Billy has written a wonderfully intelligent, twisting screenplay and we're lucky enough to have attached two world class acting talents at the top of their game. We're confident of bringing further great cast onboard as we move towards production," Ford said.
"The thought of combining the originality of the original film with the talent of Billy Ray and the support off IM Global is irresistible," Johnson added.
Production is scheduled to begin this fall in Boston.