The Warner Bros film will be presented in the vein of "Braveheart" and "Gladiator", reported Dealine.
Pitt, 49, is not yet committed to the project at the moment, but he is expected to sign on soon.
In the meantime, the actor, who is engaged to Angelina Jolie, already has a handful of projects on his list.
He has to wrap up Marc Foster's "World War Z", Steve McQueen's "12 Years a Slave" and Ridley Scott's "The Counselor".
The "Pontius" project was revealed back in the summer of 2012. Warners obtained a script about "one of the most vilified figures in history" written by "Woman on Top" scribe Vera Blasi.
It had the twists and unexpected turns that combine history, political manoeuvring and storytelling inventions.