The project was announced in April 2011, with Wahlberg set to direct. The actor has now insisted that the film is still in the works.
"The Bieber movie? I saw 115 pages," Wahlberg told MTV News. "Just waiting - I want to send it to them once it's perfect."
The 41-year-old went on to quip that it takes more time to put a movie together than it does to produce an album.
"I sent [Bieber's manager] Scooter [Braun] a text," Wahlberg explained. "The last time I talked to him, I said, 'Hey, I need Justin to do me a favour'. He goes, 'Not without the script'. So, it's a process.
"Cutting those albums and doing those videos is easy, building a movie career is a difficult thing."
Last month, Bieber revealed that the script is still undergoing changes, but added that he hopes the project will be off the ground in the near future.
Watch a trailer for Mark Wahlberg's upcoming comedy Ted below: