The 'Black Swan' actress has signed on to star as the scheming wife of the Scottish nobleman in the film, reported Collider.
The film which will be directed by 'Snowtown' director Justin Kurzel, is based on a script from Todd Louiso and Jacob Koskoff.
Oscar-winner Portman is used to dark roles and should have no trouble playing ruthless Lady Macbeth, who goads her husband into killing the King of Scotland so she can become Queen, but suffers from terrible guilt after the event.
Portman will next be seen in another Malick movie, 'Knight Of Cups', and in superhero sequel 'Thor: The Dark World'.