The director is looking to cast the pair in The Invention of Hugo Cabret, reports Deadline.
The movie is based on a children's book by Brian Selznick. The story follows a 12-year-old orphan who lives inside the walls of a train station in 1930s Paris.
Cohen is eyeing the part of the station's inspector. Kingsley is in discussions to play French filmmaker George Melies.
Production is expected to begin in June in London.