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The 37-year-old actor will star opposite Emma Stone – who was cast in July – in the as-yet untitled project, which the director is working on for Sony Pictures.
Although it isn’t confirmed what the project is – which has been written by the filmmaker – it is expected to be a rewrite of Deep Tiki, a project first mooted in 2008 which was to star Reese Witherspoon and Ben Stiller.
Scott Rudin is to produce the film, a resurrection of a shelved film which Crowe planned to make after the 2005 flop Elizabethtown.
Deep Tiki tells the story of a military contractor presumed dead after an incident in Afghanistan. He uses his apparent demise to create a new life for himself and is then dispatched to Hawaii to launch a military satellite.
The film is scheduled to begin shooting next spring.