The Coen brothers are to adapt author Michael Chabon's bestseller The Yiddish Policeman's Union for the big screen.
Joel and Ethan Coen's No Country for Old Men is up for eight Oscars
Joel and Ethan Coen will write and direct the Alaskan murder mystery, set in a fictional Jewish settlement, after Columbia Pictures acquired the rights.
The Coens' current film No Country for Old Men, which earned the brothers a Bafta for best director at the weekend, is nominated for eight Academy Awards.
Its producer Scott Rudin has also signed up for the new project.
No Country for Old Men, starring Javier Bardem as a hitman in pursuit of Josh Brolin, is the Coens' most successful film at the box office to date.
The Yiddish Policemen's Union tells the story of an alcoholic detective's pursuit of a heroin-addicted chess prodigy.
A spokesman for Sony-owned Columbia Pictures said no casting decisions had yet been made.
According to industry paper Variety, the Coens will get to work on Chabon's story after shooting dark comedy A Serious Man for British company Working Title.
Chabon won the Pulitzer fiction prize in 2001 for his book The Amazing Adventures of Kavalier & Clay.
No Country for Old Men author Cormac McCarthy also won the Pulitzer in 2007 for The Road.