Julie & Julia producer Laurence Mark will oversee the project, which will be a live-action story inspired by the doll, whose full name is Barbara Millicent Roberts.
Barbie general manager and Mattel senior vice president Richard Dickson will executive produce alongside Barbie vice president of entertainment Rob Hudnut.
Barbie was launched in 1959 by Mattel and Ruth Handler. She quickly became one of the world's most recognisable toy brands and has appeared in various guises including a high-schooler, a pilot, a teacher and an astronaut.
The studio has declined to reveal details on the film's story, or if Barbie's long-time love interest Ken will make an appearance.