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The movie will depict gay writer Wilde in the later stages of his life, during which he was imprisoned for his sexuality in Victorian Britain.
Everett confirmed Firth has agreed to take part in the movie, even though funding on the film is still yet to be finalised.
Speaking to ITV, he said: “I’m trying to scrabble together the money. Colin Firth is going to do it, he has to be in it. So that’s going to be good.
“I think directing and playing Oscar will be very difficult – I wrote it as well, it’s going to be pretty hard. But lots of actors do direct and act themselves and I feel it is a subject that I really know very well so hopefully it’s all going to come together.”
“I have wanted to do a film about the last few years of the life of Oscar Wilde. The films about Oscar Wilde you always see seem to stop just as he goes to prison, partly because the world has now come to terms with him and cannot even face itself because people were so horrible to him afterwards.
“It’s a marvellous story, I think one of the great romantic stories of the 19th century.”