The script which was initially written by Katie Dippold would be re-written by Schumer along with her sister Kim Caramele. Feig would produce the film alongside Jessie Henderson, said The Hollywood Reporter.
Though plot details are still kept secret, the film is reportedly in the vein of Feig's "The Heat".
The untitled film will tell a story about a mother-daughter duo who are put together for an awry vacation.
Schumer, 33, is apparently at the top of her career after her success through a sketch comedy series, "Inside Amy Schumer", which airs on Comedy Central.