The new line will be called PZero and will be sold at Pirelli's big store in Milan.
Italy's ANSA news agency said this week PZero includes a denim running shoe with Pirelli rubber soles and Malkovich's Technobohemia label.
Malkovich's relationship with Pirelli did not come out of the blue. He and Naomi Campbell starred in the 2005 short film "The Call," which was produced by Pirelli.
Beyonce flaunts bikini body, Blue Ivy in vacation pics
Couple mistakenly served bag of cash at McDonald's drive-thru