The untitled project - which was originally called Blended - tells the story of a man and woman who get trapped at a resort with their children from previous marriages after a bad first date.
Sandler's Happy Madison company will produce the movie in conjunction with Gulfstream Pictures, according to The Hollywood Reporter.
Sandra Bullock was attached to the project back in 2007 when it was still called Blended, but has since dropped out of the film.
Casting is currently in progress for Sandler's female lead, with his Wedding Singer and Fifty First Dates co-star Drew Barrymore reportedly in the running.
His mooted Western spoof Ridiculous 6 will apparently be pushed back in favour of the new project.
Sandler was recently linked to the upcoming Guardians of the Galaxy movie, along with Jim Carrey.