De Niro, 71, will also produce "Ferrari", which is expected to begin production later this year in the late engineer's home country, reported Aceshowbiz.
"Ferrari" is scripted by "Nixon" scribes Stephen J Rivele and Christopher Wilkinson.
The biopic will reportedly cover a period from 1945 to the 1980s. Clint Eastwood is apparently interested in directing the film.
It is unclear if the movie will be filmed in Italian or English.