The film will be based on two books about Holliday - "Doc" and "Epitaph: A Novel Of The O.K. Corral" - written by Mary Doria Russell, reported Deadline.
Renner and Don Handfield's The Combine production house will produce the film along with Palmstar's Kevin Frakes.
"We are excited to re-introduce this classic American character to a whole new audience by chronicling Doc Holliday's incredible transformation from Average Joe dentist to a man who Wyatt Earp called the 'nerviest, speediest, deadliest man with a six-gun (he) ever knew'," Renner and Handfield said in a joint statement.