The star will co-write and direct the as-yet-untitled project with the Oscar-winning Juno screenwriter Diablo Cody and Universal producer Amy Pascal, according to the studio.
After a nearly four-decade music career, Madonna is getting the biopic treatment under her own direction.
The project, which Madonna, 62, has teased on Instagram with several shots of writing sessions with Cody on her couch, has yet to reveal a production timeline or casting decisions.
The new film will reunite Madonna with producer Amy Pascal, who worked with the singer on A League of Their Own in 1992.