Close has recently enjoyed an acclaimed multi-episode arc on "The Shield" and this month she will headline the new FX series, "Damages." She also played Norma Desmond in the Broadway production of "Sunset Boulevard."
Brian Murray, who has appeared on Broadway in "The Rivals," "Little Foxes" and "The Crucible" and on NBC's "30 Rock," will play Spencer Tracy, Hepburn's long-time love and frequent on-screen sparring partner.
It is hoped that Close and Murray will also appear in a Broadway production, Variety said.
The play depicts Hepburn at 60 and Tracy at 67, shortly before he died.