The X-Men Origins: Wolverine actor is set to take on the lead role in an as-yet untitled movie which will see his character disguise himself in drag in order to befriend his ex-girlfriend in a bid to win her back.
According to industry publication Variety, Ryan – who will next shoot superhero movie The Green Lantern – will also serve as executive producer on the project, which does not yet have a director.
The script is being penned by Wall Street 2: Money Never Sleeps writer Allan Loeb.
No further casting information has been given.
In addition to the cross-dressing caper, it was recently reported that Ryan is set to take over from Tom Cruise in Motorcade after the Mission Impossible star dropped out of the project to appear in Wichita.
The action thriller sees the actor – who is married to Scarlett Johannson - playing a disgraced Secret Service agent who happens to be in the wrong place at the right time when the US president is kidnapped in New York.