DeHaan will play the title role in the drama, a space and time travelling agent from a futuristic Earth, with Delevingne playing his red-haired companion, Laureline
Besson's EuropaCorp banner will finance, produce and distribute the movie.
"After #danedehaan & #caradelevigne I'm proud to announce that mister Clive Owen is part of the Valerian adventure!!:)," Besson wrote on Twitter.
"Valerian" is based on a French science-fiction comic first published in 1967.
Owen is playing a character known simply as the Commander Arun Filitt.
Besson is known for directing films like "Leon: The Professional", "Subway", "The Big Blue", "Cold Moon" and "The Fifth Element", "Kiss of the Dragon" and "The Transporter".