The 'Iron Man' actress and the 'Trainspotting' star are expected to head up an all-star cast alongside Johnny Depp in David Koepps' crime drama.
The film is based on a trilogy of books by Kyril Bonfiglioli which centre around roguish art dealer Charles Mortdecai (Depp). The suave antihero embarks on a race against the clock to recover a stolen painting thought to contain the code to a lost Nazi bank account filled with gold.
However, he'll have to deal with angry Russians, the British Mi5 and an international terrorist along the way.
Eric Aronson wrote the script, while Andrew Lazar, Depp and Christi Dembrowski are producing for Lionsgate.
After Depp recently pulled out of a biopic about Boston mobster Whitey Bulger, filming has been pushed forward.
Koepp in pencilling a shoot once the 50-year-old star has wrapped Wally Pfister's 'Transcendence' and Rob Marshall's fairytale movie 'Into The Woods', Variety reports.
Paltrow will next be seen in indie flick 'Thanks For Sharing', while McGregor's 'August: Osage County' is out this autumn.
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