The Hollywood Reporter confirmed the 25-year-old Saturday Night Live star is teaming up with Apatow on the director's first movie since Trainwreck (2015).
The untitled film is being developed at Universal Pictures, with executive vice president Erik Baiers to oversee the project. Production is slated to begin in May or June.
Deadline said the movie is inspired by Davidson's own life, including the death of the actor's father, a firefighter, on 9/11. Davidson co-wrote the script with Apatow and Dave Sirus.
The film is expected to have similarities to Trainwreck, which Apatow crafted for actress and comedian Amy Schumer. Trainwreck allowed Schumer to play a version of herself using material from her own life.
Davidson joined SNL in 2014, and will also appear in the upcoming movies What Men Want and Going Places. He is also known for his high-profile romance with singer Ariana Grande, which ended in October.