The 49-year-old controversial star married Nirvana singer Cobain in February 1992, and welcomed their daughter Frances Bean into the world in August of that year.
Cobain battled depression and drug addiction and committed suicide aged 27 in 1994, reported Huffington Post online.
"I know that Universal wants to make the film but I don't know that I want to do it until... I would feel weird having a film made about me and Kurt unless I was actually acting myself. It would be too weird," Love said.
"There was talk of a biopic a few years back. I think I changed my mind about it, but I did do a deal with Universal. Scarlett Johansson was into it; I was also into Michelle Williams. These were the people the studio offered to me. It wasn't me choosing them.
"I kind of liked Anna Faris, which everyone said I was insane for, but I thought she kind of looked a little bit like me, and she was a little prettier. That's the whole point of Hollywood: I was offered to play Janis Joplin. I am a little prettier than Janis Joplin so it's always like that," Love said.