The Academy Award-winning filmmakers have inked a deal with Universal Pictures for the upcoming comedy, reported Deadline.
'Hail, Caesar' is an original script by the Coens about a Hollywood fixer named Eddie Mannix who protected the stars of the era.
Clooney has been a frequent collaborator with the Coen brothers, having starred in their films 'O Brother', 'Where Art Thou?', 'Intolerable Cruelty' and 'Burn After Reading'.
Brolin earned a Screen Actors Guild Award nomination as part of the cast of the siblings' 2007 movie 'No Country for Old Men', and also appeared in their remake of 'True Grit'.