James Wan is producing the movie, along with Michael Clear, Todd Garner and Jeremy Stein, reported Variety.
Lawrence Kasanoff is executive producing. Greg Russo penned the most recent draft.
The movie is based on the classic '90s arcade game.
Paul WS Anderson's 1995 "Mortal Combat" movie revolved around some of the game's classic characters, like Liu Kang and Johnny Cage, who were invited to a tournament on a mysterious island only to find out that the fate of the world hung in the balance.