Titled "Conspiracy of Fools," the movie will be based on the book of the same title by New York Times reporter Kurt Eichenwald, which chronicles the collapse of the energy firm.

DiCaprio will play a new employee within Enron who uncovers the accounting fraud dealings of his superiors.

DiCaprio's company Appian Way will produce the film with Warner Bros. The screenplay will be written by Sheldon Turner, who penned "The Longest Yard."

DiCaprio, 32, is in the running for an Academy Award this year for his role in "Blood Diamond."

This won't be the first time Enron appears on the silver screen. The 2005 documentary "Enron: The Smartest Guys in the Room" took in $5 million at the box office and was nominated for an Academy Award in 2006. It won the Writers Guild award for best documentary screenplay.