He is penning the screenplay for the as-yet-untitled period film, the entertainment industry trade newspaper said.
No casting or production start date were reported.
Coppola is famous for his classic gangster picture "The Godfather" and its two sequels, which chronicled the exploits of the fictional Corleone clan, a family of Italian descent who run an organized crime syndicate in the United States.
His most recent film was the 2011 horror film "Twixt."
Celebrity Breakups and divorces of 2014 [PHOTOS]