Enyedi's "On Body and Soul" won the Golden Bear at last year's Berlin Film Festival and is a nominee for the Best Foreign-Language film Oscar.
According to the Hollywood Reporter, Seydoux and Norwegian actor Anders Baasmo Christiansen will play a married couple in the twisted love story, an adaptation of the novel of the same name from Hungarian poet and writer Milan Fust.
Fust's novel was first published in Hungary in 1942, but only translated into English in the late 1980s and became a sensation.
Shooting on the film is set to begin next year in Paris, Hamburg, Budapest and the South of Italy.