The 40 year-old actress will also be reteaming with her 'Bridesmaids' co-screenwriter, Annie Mumolo, to produce and star in the new project as well as directing it, reported Contactmusic.
"We're very excited to be writing. We will be going into a cave for months to finish. An actual cave. We found one that's nice and big. We're putting a couch in there. I've been wanting to direct for some time now. This seems like the perfect first project," she said in a statement.
Wiig, 40, a 'Saturday Night Live' alum, and Mumolo garnered worldwide fame after the release of 2011's 'Bridesmaids,' the pair's first script earned them a nomination for Best Original Screenplay at the Oscars.