The singer has previously been approached about plans to chart the group's story in a stage musical, but he would prefer to see the project in cinemas.
He tells British newspaper The Sun, "We've been offered musicals and talked about them for years but never a film. It is one of those stories ours, where if you wrote it down and gave it to someone they'd go, 'Well, it's a good story but it wouldn't come true'. It feels like 20 years of madness, but it is a good story."
Barlow also reveals his dream cast would include Hollywood superstars Brad Pitt and Matt Damon playing his bandmates, adding, "I'd definitely have James Cordon to play me - he's such a great bloke, I love him. Howard Donald always thinks he looks like Willem Dafoe, so that would be a good one. Jason Orange is a bit Brad Pitt. Who'd be Mark (Owen)? It'd be (British Tv presenters) Ant (MCPartlin) or Dec (Declan Donnelly), or you could even do both. And probably someone like Matt Damon should take on the role of Robbie Williams."
Barlow even has a writer in mind for the project - Blood Brothers playwright Willy Russell: "Someone British should definitely make it. I'm not that hot on films but I could see someone quite northern and funny coming up with it... Willy Russell, he's done plays but he's also done films. He's the sort of guy that would be great - I think we should get him to do it."
The boyband shot to fame in the early 1990s, but split in 1996 following the departure of Robbie Williams.
Take That made a triumphant comeback 10 years later in 2006 and they reunited with Williams for a successful tour and album in 2010.