Guymon Casady, Mark Gordon, Michael De Luca and Pratt are producing the project, reported Variety.
The film is an adaptation of the graphic novel revolving around assassin who manifests the toughest skills of three different personas: a cowboy, a ninja, and a viking.
It is based on the Image Comics graphic novel by AJ Lieberman and illustrator Riley Rossmo.
The film marks yet another collaboration between Pratt and Universal, which recently wrapped production on "Jurassic World: Fallen Kingdom."
That movie is set to open on June 22, 2018.