The film, which will begin production in 2016, will be the rapper's third stint as a director after previously helming 2012's The Man With The Iron Fists, and Coco, starring Azealia Banks, which will be released in 2016.
Breakout follows the story of a young photographer who is falsely arrested in Bangladesh for drug trafficking.
Richard D'Ovidio, who penned TV drama The Blacklist, has written the script for the film, and it will be released by Amasia Entertainment.
Michael Helfant and Bradley Gallo, from Amasia, said in a statement, "The multi-talented RZA has mastered the art of music, acting and filmmaking. We are ecstatic to have him behind the camera on our next project as he brings a fresh and innovative take to this international action thriller from Rich D'Ovidio."