The legendary Queen of Soul told Billboard that the project is currently in the casting stage.
"It's actually still very active, we've just been having a lot of conversations about who would play my dad and my family," Franklin explained. "So, right now it's a Mexican standoff."
Franklin went on to deny the suggestion that it will take a few years for the film to actually be produced.
"It won't be that long. I've got another call on the biopic so it won't be that long if we're going to do it," she clarified.
The 'Respect' singer previously revealed that she wanted Halle Berry to play her in the movie, but the actress has said she turned down the role because she cannot sing.
Franklin released her most recent album Aretha: A Woman Falling Out of Love in 2011.
Watch Aretha Franklin's 'A Rose Is Still A Rose' music video below: