The 'Transformers' star is negotiating with Sony Pictures to star alongside Brad Pitt in the World War II thriller, reported Contactmusic.
The film centres on a Sherman tank commander and his crew who find themselves behind enemy lines in Nazi Germany in April 1945 just as the war is coming to an end.
LaBeouf, 26, would play one of the crew members, while Pitt has already signed on to star as the commander.
Writer-and-director David Ayer is helming the picture based on his own script.
LaBeouf's next film is 'The Company You Keep', which also stars Robert Redford, and he has just finished filming 'Nymphomaniac'.