Jeff Garlin, Emma Stone, musician and actor Teddy Geiger, Jane Lynch and Demetri Martin have also boarded the project, which is set to begin principal photography on Jun 18 in Toronto.
Wilson, who shot to fame in the US version of The Office, will star as an ageing drummer who gets a second chance at stardom decades after he was rejected from an iconic band.
21 Laps Entertainment's Shawn Levy and Tom McNulty will produce. The Rocker is based on an original screenplay by Ryan Jaffe, and most recent draft was written by team Wally Wolodarsky and Maya Forbes.
'The Rocker is a fresh and funny script, and to have it brought to life by this blend of established and emerging talent is really exciting for us,' Levy said.
Atomic's president of production Debbie Liebling will oversee the project for the studio.