Gordon Chan (The Medallion) will direct the Matrix-like sci-fi action title and filming is scheduled to start in Taiwan on September 15.
Taiwan's Double Edge Entertainment, LA-based Convergence Entertainment, US outfit Axis Entertainment and China's Enlight Pictures have assembled the project.
The story revolves around an alliance between the last surviving descendant of a Japanese clan, a martial arts expert and a CIA agent who try to stop an evil warrior from wreaking havoc in a fighting tournament that takes place in an alternative dimension.
Bobby Sheng, Tim Kwok and Joseph Chou are producing.
SNK will launch a new version of its bestselling video game that inspired the film to coincide with the theatrical release.