The film will be based on the popular strategic game and anime series.
"'Bakugan' brings something original and exciting to the boys' action genre and we're looking forward to working with Stuber Productions and Universal to unleash that power on the big screen," Ronnen Harary of Spin Master Ltd. said in a statement.
Harary is producing the film along with Scott Stuber from Stuber Productions. Donna Langley and Jeff Kirschenbaum from Universal are overseeing the project.
Jon Mone of Stuber Productions brought the property to the company through Mike Drake, whom they recently worked with on the upcoming Universal release "Repossession Mambo." Mone will executive produce.
"I am very excited to collaborate with Spin Master to bring its unique property to the screen. 'Bakugan' has all the elements of a great movie and is already adored by fans across the globe," added Stuber.