The sci-fi film will be based on a script written by screenwriter Max Borenstein, according to The Hollywood Reporter.
Few further details are known about the space-set adventure movie as of yet.
Borenstein wrote the script for Legendary Pictures' fantasy The Seventh Son, which is based on Joseph Delaney's novel The Spook's Apprentice and will star Jeff Bridges, Ben Barnes, Julianne Moore, Alicia Vikander, Olivia Williams, Antje Traue and Kit Harington.
The film is reportedly different from the science fiction project that Disney picked up from Chronicle writer Max Landis in January.
Disney most recently visited an off-world location in John Carter, which debuted over the weekend.
The Andrew Stanton-directed movie, which is based on the Edgar Rice Burroughs graphic novel A Princess of Mars, entered the US box office charts in second place.
It took over $30 million (£19 million), but was beaten to the top of the charts by animated family movie The Lorax.
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