Michael and Peter Spierig Brothers will direct the sci-fi tale from their own screenplay and Brisbane-based Patrick McDonald of Wolfhound Pictures and Tim McGahan of Blacklab Entertainment who brought the project to Arclight are producing.
Predestination centeres on a secret government time travelling agency designed to prevent future killers and terrorists from committing their crimes.
The project is based on the Robert A Heinlein short story All you Zombies, however the producers stress Predestination will not be a zombie film.
The Spierig Brother previously directed Hawke in the 2010 vampire thriller Daybreakers. Production is set to commence in Australia at the start of 2013 and additional casting is underway.