'The Rock' could star opposite Twilight actor Taylor Lautner, who is wanted for the role of his diminutive rival David, according to Twitch.
Director Scott Derrickson previously helmed horror The Last Exorcism of Emily Rose and sci-fi film The Day The Earth Stood Still.
In the bible story, David is the future king of Israel who is forced to take on the much bigger Goliath, a warrior sent on a mission to kill him before he sits on the throne.
Twilight's Marty Bowen and Wyck Godfrey are producing the film for Relativity Media.
Johnson is currently filming G.I.Joe: Retaliation, the follow-up to 2009's G.I.Joe: The Rise of Cobra.
He is also attached to the 3D adaptation of the classic Arabian Nights in the role of Sinbad.
Watch Dwayne 'The Rock' Johnson in Furious Five below: