Witherspoon and Reynolds have been signed up to play artists Margaret and Walter Keane in a film that will be produced by Tim Burton.
The artists became famous in the 1950s and 60s after their paintings of large-eyed kids were one of the first mass marketed art sensations at the time.
“We are ecstatic to have this dream cast for our dream project. Walter is a larger-than-life anti-hero – charming, funny, dangerous, and a little crazy,” the pair said in a statement.
“Ryan will knock it out of the park. As for Reese, she will be perfect as Margaret – soulful, decent, transforming from vulnerability to learning to fight for herself,” the statement further reads.
According to deadline.com, Scott Alexander and Larry Karaszewski have written the script for the motion picture and the filming will start later this year.
Ed Wood is set to direct the movie, while Lynette Howell and Jamie Patricof will assist Burton in producing through their new company Electric City Entertainment.