The True Grit actress will play Kevin Costner's daughter in the untitled Relativity Media thriller, reports Deadline.
The film - which was scripted by Luc Besson and Adi Hasak under the title Three Days To Kill - stars Costner as Ethan Runner, a Secret Service agent who discovers that he is dying and embarks on a final mission.
His attempts to reconnect with his estranged daughter at the same time are complicated by an experimental drug with hallucinatory side effects.
Steinfeld will be seen in a host of forthcoming films including Hateship, Friendship, Can a Song Save Your Life?, Ender's Game and in the starring role in a new Romeo and Juliet film.
The actress will celebrate her 16th birthday in December.
Photo gallery - 'Can a Song Save Your Life?' on-set pictures:
Copyright: WENN Ivan Nikolov