Matt Damon, Keira Knightley to star in period drama
The movie is an adaptation of F Scott Fitzgerald's classic of the same name.
The Invictus star will reportedly play the role of a talented young doctor called Dick Diver, living on the French Riviera in the 1920s with his wife.
A director is yet to be attached to the project, which will be produced by 20th Century Fox, Contactmusic reported.
The movie, which so far has only a script written by David Nicchols, tells the tale of Dick as he goes through life, weighing up different issues in his mind such as his wife's wealth. The film does not have a release date as yet. The female lead has been offered to Knightley who is said to be keen to star with the American star.
Damon recently admitted he has such a busy schedule this year he doesn't plan on taking any time off.
"I want to direct someday and I can't really pass up the chance to work with the people I'm getting to work with. I've worked with Paul Greengrass three times now, and Clint Eastwood twice, and Steven Soderbergh five or six times, and the Cohen Brothers this month. As long as that keeps happening, I can't see myself taking time off, unless the work dried up."