The French electronic act, led by Anthony Gonzalez, will team up with Tron: Legacy director Joseph Kosinski to provide music for the big budget Universal production, reports The Playlist.
"I've wanted to do soundtracks for so long, and starting with such an ambitious project, especially in the sci-fi category, means a lot to me," Gonzalez told the website.
"I'm not afraid to do my first soundtrack on a big Hollywood movie, with a big budget and a lot of pressure. I like challenges and it excites me more than frightens me.
"I can't wait to hear my music played by amazing musicians, and an orchestra and brass and maybe choirs. It's a chance to create something big and I'm ready for it."
Olga Kurylenko, Morgan Freeman, Andrea Riseborough, Nikolaj Coster-Waldau and Melissa Leo are among the supporting cast for Oblivion, due to open in cinemas in April 2013.
M83 tracks have featured in movies Chronicle, The Last Song and Last Night. They previously composed the score for Gilles Marchand's 2010 film Black Heaven.
Their most recent studio album, the double-disc Hurry Up, We're Dreaming, was released in 2011.
Kosinski previously worked with French dance act Daft Punk on the soundtrack for Tron: Legacy.
Watch the music video for M83's 'Midnight City' below: