Producers Michael Cerenzie and Christine Peters have acquired the rights and are planning a biopic based on Marshall Terrill's biography "Steve McQueen: Portrait of an American Rebel."
According to Variety, the project will likely land at Paramount, where Cerenzie-Peters Prods. has a first-look deal.
The project will primarily chronicle McQueen's Hollywood career, which began in 1956 when the Indiana native got his break in the film Somebody Up There Likes Me.
The book, which was published in paperback in October, also delves into McQueen's offscreen penchant for motorcycles, fast cars and drugs. Project will examine his three marriages, including his stormy relationship with Ali McGraw, as well as his battle against lung cancer.
Cerenzie has secured the cooperation of McQueen's widow, Barbara Minty.
Cerenzie and Peters are close to attaching a director to the project.
No production date has been set.