According to Variety, actor Leo Rossi is writing the script about the relationship between Gotti Jr and his father, the head of the Gambino crime family who died in prison in 2002.
"I think it's a great story about redemption and about America," Cassavetes said about the project.
In his final visit to his father before he died, Gotti Jr reportedly told the elder Gotti that he was leaving his life of crime behind.
Marc Fiore is producing the project, which is scheduled to begin production next year.
Cassavetes's previous films include Alpha Dog and My Sister's Keeper.