Media reports in recent weeks have said Lohan was in talks to play John Gotti's daughter, Victoria, in the movie.
However, UsMagazine.com said Wednesday the 24-year-old "Mean Girls" and "Freaky Friday" actress has signed a two-picture deal to play John Gotti Jr.'s wife, Kim, in "Gotti" and a second movie called "Mob Street."
"We're very pleased to have Lindsay on-board for both of these films," executive producer Marc Fiore told UsMagazine.com in a statement. "She has been very enthusiastic about the Gotti project, and after resuming discussions with her, we were impressed by her commitment to the film and felt she would be a perfect Kim Gotti."
Lohan's career lately has been eclipsed by her battles with drug and alcohol addiction, as well as her related legal woes. She is currently on probation for driving under the influence and is awaiting trial on a shoplifting charge.
Her last starring role was in 2007's "I Know Who Killed Me." She has since had supporting roles in 2008's "Chapter 27" and 2010's "Machete."