The pair have been cast in the new movie from writer-director Michael Sarnoski - whose credits include 'Pig' and the forthcoming 'A Quiet Place: Day One' - that will be on sale at this month's Cannes market.
The picture has been billed as a dark take on the classic tale of Robin Hood and sees the titular character fighting with his past after a life of crime and murder, a battle-scarred loner who is gravely injured and in the hands of a mysterious woman who offers him the possibility of salvation.
Production is set to begin in February 2025 with Aaron Ryder and Andrew Swett both set to produce for the Ryder Picture Company (RPC) alongside Alexander Black for Lyrical Media - who are fully financing the flick.
Sarnoski said in a statement: "It has been an incredible opportunity to reinvent and freshly innovate the story we all know of Robin Hood.
"Securing the perfect cast to transform the script to screen was essential. I could not be more thrilled and trusting in Hugh and Jodie to bring this story to life in a power and meaningful way."
Ryder and Swett added: "This is not the story of Robin Hood we've all come to know.
"Instead, Michael has crafted something far more grounded and visceral. Thanks to Alexander Black and our friends at Lyrical along with Rama (Gottumukkala, executive producer) and Michael, the world is going to love seeing Hugh and Jodie together in this epic."
Black said: "We are thrilled to be part of this very special project and to be working with a visionary director in Michael, a phenomenal cast in Hugh and Jodie, and producing with our frequent collaborators, Ryder and Swett at RPC."