Swank is best-known for her Oscar-winning roles in "Boys Don't Cry" and "Million Dollar Baby." She was most recently seen in "P.S. I Love You."
"Amelia" will be helmed by Indian-born "Vanity Fair" and "Monsoon Wedding" director Mira Nair, Variety.com said.
"Just Like Heaven" and "Rain Man" scribe Ron Bass wrote the script for "Amelia," using Susan Butler's "East to the Dawn," Mary Lovell's "The Sound of the Wings" and Elgin Long's "Amelia Earhart: The Mystery Solved" as his primary resources, the entertainment industry trade paper said.
Bass is also serving as executive producer on "Amelia," which is expected to start filming in April.