The author is working simultaneously on a novel and a screenplay adaptation for the film, which will be produced by Disney-based Offspring Entertainment partners Adam Shankman and Jennifer Gibgot.
The project came about after Disney executive Jason Reed met Cyrus and discussed her career plans, reports Daily Variety.
The plot is being kept secret, but it has been revealed that Cyrus will act and not sing in the Sparks drama.
"Certain opportunities garner your interest, and this was one of those," Sparks said, adding that Cyrus's familiarity with his work "played a role" in the project coming together.
Cyrus was recently likened to Madonna by director Brett Ratner, who said she was "impressive" to work with.