The veteran filmmaker and his Lightstorm Entertainment company have acquired the rights to Taylor Stevens's novel.
Cameron will develop the project with the intention of producing and directing it following the conclusion of his work on Avatar 2 and 3.
The thriller centres around Vanessa 'Michael' Munroe, an information specialist who returns to her native central African country to hunt down the missing daughter of a Texas oil tycoon.
"Taylor Stevens's Vanessa 'Michael' Munroe is an intriguing and compelling heroine with an agile mind and a thirst for adventure," said Cameron in a statement.
"Equally fascinating for me is her emotional life and her unexpected love story. I'm looking forward to bringing Vanessa and her world to the big screen."
Steven's second book about Munroe, The Innocent, was published earlier this year.
Cameron, who has lately dedicated himself to the Avatar franchise, has also mentioned that he still plans to adapt Battle Angel Alita for the big screen.