"John Wick" helmer David Leitch will direct the project, reported The Wrap.
Kurt Johnstad has penned the script adapted from the Oni Press graphic novel by Antony Johnston.
The story will follow an underground MI6 officer, who is killed just before the fall of the Berlin Wall.
Theron, 40, is producing the project through her Denver and Delilah Productions banner along with Oni Press and Sierra Pictures.