The director is collaborating with Oscar-winning screenwriter Tom Stoppard for the project.
The project, which will be a period piece set in the 19th century like Dickens' original, is being developed for Megan Ellison's Annapurna Pictures, said The Hollywood Reporter.
Ellison, Miller, Scott Rudin and Jennifer Fox will serve as producers.
Dickens' classic 1843 novella about Ebenezer Scrooge and his redemptive Christmas Eve tour of the holiday past, present and future has already been adapted for numerous film and TV shows.
The project would reunite Miller with Annapurna, which produced his last film, 2014's "Foxcatcher", for which he received his second best director Oscar nomination.
Stoppard won the best original screenplay Oscar for 1998's "Shakespeare in Love".