The producer is planning to make the Karen Russell novel into a half-hour comedy project, The Hollywood Reporter says.
Swamplandia focuses on a 12-year-old alligator wrestler called Ava Bigtree who travels through Florida looking for her missing sister.
Rudin has previously produced a number of successful movies, including The Social Network, True Grit and There Will Be Blood.
He is currently working on HBO's upcoming show More As This Story Develops from The Social Network writer Aaron Sorkin and is also involved with the cabler's potential adaptation of The Corrections.
Swamplandia does not yet have a writer.