The 52-year-old actor is attached to appear in a comedy that will be written by 'X-Men: First Class' writers Ashley Edward Miller and Zack Stentz, reported Variety.
Warner Bros Studios is developing a film that will blend live-action and CGI in a movie that explores Looney Tunes's fictional ACME Corporation, known for making dangerous products.
No Looney Tunes characters are expected to be the main focus of the movie.
John Requa and Glenn Ficarra ('Crazy, Stupid, Love') are in talks to direct in a reunion with Carell.