Stewart is best known for her work in the "Twilight" movie franchise.
The Hollywood Reporter said she will begin working on "Road" this August, alongside co-stars Sam Riley and Garrett Hedlund.
Hedlund is to play character Dean Moriarty, Stewart his wife Marylou and Riley Kerouac's alter ego Sal Paradise, the entertainment industry trade newspaper said.
"We are enormously proud to be collaborating on one of the last great cinematographic adventures of the 20th century to be brought to the screen," France's MK2 producers Nathanael Karmitz and Charles Gillibert said in a statement.
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