The games' storyline follows a bartender who learns that he is a descendant of famous assassins after being kidnapped by the Knights Templar. The action takes place during the Crusades and Renaissance.
The Assassin's Creed video game franchise has sold more than 30 million units since debuting in 2007. The next instalment, Assassin's Creed III, will be released this October.
Shame star Fassbender will co-produce the movie project with his DMC Film partner Conor McCaughan and Ubisoft Motion Pictures, reports Variety.
"Michael Fassbender was our first choice," said UMP CEO Jean-Julien Baronnet. "Michael is an extremely smart, talented, versatile and committed actor."
Assassin's Creed was previously being developed as a feature film by Sony Pictures, but work was put on hold. The project will now be developed independently by UMP, who will attach its own writer and director and seek out a production and distribution partner at a later date.
"We're open to re-discuss with the key studios once the production package is finalised," Baronnet said. "Whatever the financial model, UMP will limit its risk investment."
Fassbender recently starred in Ridley Scott's Prometheus and is currently filming Twelve Years a Slave with Steve McQueen. He is expected to reprise his role as Magneto in the X-Men: First Class sequel next year.
Watch a trailer for Assassin's Creed III below: