The filmmaker had been in talks to reunite with his The Social Network screenwriter Aaron Sorkin to work on the as-yet-untitled project, with actor Christian Bale in mind to tackle the lead role, but Fincher has since bowed out of negotiations, according to multiple reports.
Possible replacements have yet to be revealed.
The Sony Pictures film will be based on Walter Isaacson's biography Steve Jobs, and Sorkin previously revealed the movie will be split into three main segments, each taking place backstage before one of Apple's famous product launches.
The forthcoming project won't be the first biopic about the late Apple boss to hit theatres - Ashton Kutcher portrayed the tech genius in independent release Jobs last year (13).
Jobs lost his battle with cancer in 2011.