Penned by Craig Luck and Ivor Powell, the story follows a robot that lives on a post-apocalyptic earth. Built to protect the life of his dying creator's beloved dog, it learns about love, friendship, and the meaning of human life.
Hanks will play the ailing creator, reported Empire.
Robert Zemeckis and Kevin Misher are producing the project.
The makers are planning to start the shooting of the film in the first quarter of 2018.