The 39-year-old actor is poised to star as Egyptian ruler Ramses in Ridley Scott's biblical epic, with Bale confirmed to play religious prophet Moses, the Hollywood Reporter said.
Scott has been planning the project for a while, but things fell into place earlier this year when Steve Zaillian signed on to rewrite Adam Cooper and Bill Collage's original draft.
Peter Chernin, who bought the project as a pitch, will act as producer alongside 'Prometheus' helmer Scott.
Production is expected to begin on the 20th Century Fox movie in September, with filming taking place in Spain, Morocco and England.
Edgerton is on the rise, having made a name for himself in Gavin O'Connor's 2011 drama 'Warrior' and subsequently landing a series of high-profile films including 'The Great Gatsby' and 'The Odd Life of Timothy Green'.
He was also cast in western 'Jane Got a Gun' opposite Natalie Portman and will take a starring role in Jeff Nichols' sci-fi film 'Midnight Special'.