Martin Scorsese is reported to have explained about George Harrison: "music and his search for spiritual meaning is a story that still resonates today".
Martin Scorsese, who is famous for directing Taxi Driver, has also recently made films about Bob Dylan and The Rolling Stones.
Early production and auditioning for the film, which will go on general release, is expected to begin later this year.
Guitarist George Harrison died in 2001 aged 58 after battling with lung cancer.
George Harrison’s widow Olivia Harrison said: "It would have given George great joy to know that Martin Scorsese has agreed to tell his story."
