Wallace favored segregation and his bullying tactics are said to have galvanised Martin Luther King Jr and the 1965 march from Selma to Montgomery, reported Deadline.
The Ava DuVernay-directed film for Paramount will see David Oyelowo play the role of King while Tom Wilkinson is in the role of President Lyndon Johnson.
Wallace ignited the protests with his Alabama State Troopers beating up the initial protesters and thus creating a nation wide outrage.
'Selma' is produced by Slumdog Millionaire's Christian Colson, DuVernay, Oprah Winfrey, Brad Pitt.