Collins will adapt the screenplay from her novel, which is conceived as the first in a trilogy, and Nina Jacobson is producing through her Color Force company.
Lionsgate president of motion picture production Alli Shearmur will oversee production for the studio along with senior vice president of motion picture production Jim Miller.
The story takes place in a dystopian future where a young girl puts herself forward for a survival contest in order to save her community.
Miller and executive vice president of business and legal affairs Robert Melnik negotiated the deal for Lionsgate with Jason Dravis of Monteiro/Rose/Dravis on behalf of Collins and Color Force.
'This is the exactly the kind of movie I came to Lionsgate to make - youthful, exciting, smart and edgy,' Shearmur said. 'We are looking forward to working with Nina and Suzanne to create a movie that satisfies audiences' hunger for high-quality entertainment.'