Theron's production company, Denver and Delilah, as well as Film Engine and Infinity Features will produce the film, the Daily Variety reported Thursday.
The film is a drama revolving around an 11-year-old girl's struggle to accept her mother's abandonment.
Also appearing in "Ferris Wheel" are Nick Stahl, AnnaSophia Robb and Deborra-Lee Furness.
Aaron Carter is still in love with Hilary Duff
Ray Liotta sues skin care company over use of likeness