The Impossible actor and Salt filmmaker are working together to adapt Philip Roth's acclaimed novel, reports Coming Soon.
McGregor will take on the starring role of Seymour 'Swede' Levov, a blonde Jewish businessman living in Newark, New Jersey, whose ordinary life is disturbed by the chaos of the 1960s under the presidency of JFK's successor Lyndon B Johnson.
The Lincoln Lawyer writer John Romero wrote the script for the long-gestating project.
Roth's The Human Stain and Elegy have both previously been adapted to screen.
McGregor was most recently seen in August: Osage County and A Million Ways to Die in the West, and will apear in the upcoming Jane Got a Gun with Star Wars co-star Natalie Portman.
Noyce's The Giver will be released in the summer.
American Pastoral will begin shooting in early 2015.