The film will go on floors next year, reported Ace showbiz.
Scott Derrickson is already attached to direct the movie from a script by Jon Spaihts. It is not yet confirmed whether Joaquin Phoenix will play the titular role.
'Dr Strange' narrates the story of a self-centered New York surgeon robbed of his touch after a car accident. After a stint as a wandering derelict, he found his way to a healer in the Himalayas, where he learned to tap into psychic powers to battle evil wizards and other wrongdoers.