Steve Martin's novel is being adapted for the big screen by Maven Pictures producers Trudie Styler and Celine Rattray, according to The Hollywood Reporter.
The Muppets actress Adams will feature in the story, which is about an art gallery owner stretching over 15 years of her life.
"We couldn't be happier to be working with the brilliant Amy Adams on this adaptation of Steve Martin's smart novel," said Styler and Rattray.
"This project continues on Maven's mission of making films that highlight strong female characters and talent."
Best known as a comedy actor, Martin has also written several plays and novels.
His book Shopgirl was adapted into a feature film in 2005, in which he starred opposite Claire Danes and Jason Schwartzman.
Adams is currently working on the forthcoming Superman reboot and has also been connected to Clint Eastwood's Trouble with the Curve.