The duo will star in what is being described as an odd- couple comedy, based on an original animated short, "Pigeon: Impossible", according to The Hollywood Reporter.
Smith will voice act Lance Sterling, the world's most awesome spy, who is super-skilled in saving the world, while Holland will play Walter, a brainiac who lacks social skills.
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The movie will be co-directed by Nick Bruno and Troy Quane and be backed by Fox Animation, Blue Sky and Chernin Entertainment.
"Spies in Disguise" will release on January 18, 2019, where it will clash with M Night Shyamalan's "Glass'.