Dakota Fanning and Alicia Keys are also in negotiations to appear in the 1964-set story about a young runaway named Lily Owens who is taken in by an eccentric trio of bee-keeping sisters, Variety.com said.
Fanning would reportedly play Lily, while Latifah, Okonedo and Keys would portray the three sisters and Hudson would play Lily's caregiver.
"Love & Basketball" director Gina Prince-Bythewood is slated to helm the film based on a screenplay she penned, the trade paper said.
Shooting is expected to begin Jan. 9 in North Carolina.
Swim Week Miami Beach 2014 [PHOTOS]