The Hannah Montana actress has been cast as a young woman who is hired by the FBI to go undercover at a college sorority.
What Happens In Vegas director Tom Vaughan will helm the movie based on a script by Wall Street: Money Never Sleeps writer Allan Loeb and Steven Pearl.
Guy East and Nigel Sinclair's Exclusive Media Group are on board to produce and finance.
Sinclair told Variety of the project: "There will be a touch of real danger when she goes undercover. We have a sharp, funny, accessible and commercial script from Allan and Steven that is a perfect match for her comic talents. We are also thrilled to have Tom Vaughan at the helm."
Cyrus next appears in LOL opposite Demi Moore and Ashley Greene.