Experience Hendrix - the group that administers the star's posthumous affairs - has blocked the use of the rocker's music, likeness and any additional copyrights made by Hendrix during his lifetime, and said that the project cannot go ahead without its express permission.
CEO Janie Hendrix told Undercover.fm: "[We have] made it known many times in the past that no such film, were it to include original music or copyrights created by Jimi Hendrix, can be undertaken without [the group's] full participation."
However, she went on to reveal that a documentary about Hendrix is currently in the works, adding: "With Sony Legacy, our partner, we are active in releasing documentary material starring, so to speak, Jimi Hendrix as himself, and plan to continue on this path."
Outkast member Andre 3000 was recently said to be in talks for the role of Hendrix in the biopic. Lenny Kravitz and Laurence Fishburne were previously linked to the role.
Jason Derulo also claimed earlier this year that he had turned down an opportunity to portray the guitarist.
Listen to Jimi Hendrix's 'Voodoo Child' below: