The rapper took to Twitter to tell his fans about the film project.
"I'm writing another movie. I'll put it out the same day as my new album. I started last night," the rapper tweeted on Thursday.
The hip-hop star, born Curtis Jackson, later followed up with: "I have two ideas, what do you think about a film based on [the rapper's 2009 LP] War Angel?"
Jackson, who has been romantically linked to Chelsea Handler, then promised fans that the forthcoming movie would be "10 times better then (sic) Before I Self Destruct," referring to his first movie project as a writer-director.
The star also wrote the 2010 crime thriller Gun starring Val Kilmer and Machete actor Danny Trejo. His next film project, Things Fall Apart, which he also co-wrote, is expected to be released later this year.