The film will be directed by Pradeep Sarkar.
"Rani will be doing 'Mardaani'. It will be directed by Pradeep Sarkar. She will be playing a police officer in the film," a spokesperson of Yash Raj Films (YRF) told PTI.
The movie is supposed to be raw and gritty, something that Sarkar and Rani both have never done.
The filmmaker had earlier directed 'Laga Chunari Mein Daag' and 'Lafangey Parindey' for YRF.
The shooting of the film is likely to begin by this year end.