'Ballers' will star Hart as a man trying to emerge from the shadow of his successful basketball player brother at a weekend fantasy camp, reported Deadline.
Hart is slated to pen the screenplay for 'Ballers' with collaborators Joey Wells, Chris Spencer and Harry Ratchford.
A director will be hired once the first draft of the script is complete, with an eye to begin shooting the movie next summer. Brian Grazer will be a producer on the project.
This will be James's first starring film role, although he has previously acted on 'Saturday Night Live' and 'Entourage'.
Hart has been featured in two high-profile films this year, the apocalyptic comedy 'This Is The End' and the stand-up movie 'Let Me Explain'.