According to Variety, Pearce will script the film for production companies Benderspink and Disruption Entertainment.
The studio acquired the rights for The Mighty in June this year and have tapped the British writer to take on the project.
Pearce is currently writing the script for Marvel Studios' Iron Man 3 alongside director Shane Black.
The Mighty is a creater-owned DC Comics graphic novel by writer Peter Tomasi and artist Keith Champagne.
The story follows one detective's quest to uncover the dark secret of Earth's mightiest superhero, Alpha-One.
Iron Man 3 is currently expected to hit cinemas on May 3, 2013.
Watch the trailer for Iron Man 2 below: