The series, which airs on Spike, pits warriors from different historical periods against each other in simulated combat.
"We have a really good script that just got turned into Paramount," confirmed Real Steel director Levy.
"That would be probably for me to just produce, but I wanna make that."
He added that production on the feature film could begin later in 2012.
"It's a huge idea that basically says, 'What if you united warriors from 12 different epochs on to the same team to do battle against and with each other?'
"That's a big f**king awesome movie and it's a really good script, so it's something I hope we will make."
The third season of Deadliest Warrior - hosted by Geoff Desmoulin and former Navy SEAL Richard 'Mack' Machowicz - aired on Spike last year.
The run included such episodes as 'George Washington vs. Napoleon Bonaparte', 'Theodore Roosevelt vs. Lawrence of Arabia' and 'Saddam Hussein vs. Pol Pot'.
Watch a clip from Deadliest Warrior below: