ComingSoon reports that the film is to be directed by Sam Miller, known for his work on the TV series Luther.
In the movie Henson will play a former DA, now a stay-at-home mum with two children. Her character is terrorised by Elba's after he gains access to her home by pretending he has car trouble.
As well as starring in the film, Elba will be an executive producer alongside Lindsey Williams, Rob Hardy, and Ellen Goldsmith-Vein.
Filming on No Good Deed begins this April in Atlanta, Georgia.
Elba recently won a Golden Globe for 'Best Performance by an Actor in a Mini-Series or Motion Picture Made for Television' for his work on Luther. He's currently starring alongside Nicolas Cage in Ghost Rider: Spirit of Vengeance, and will be seen in Ridley Scott's Prometheus.
Watch Elba in a trailer for Prometheus below: