Michael De Luca is producing, and MGS creator Hideo Kojima is set to take the role of executive producer.
Sony's Doug Belgrad and Sam Dickerman will shepherd the project for the studio, working in consultation with Kojima as well as Michael De Luca Production’s Josh Bratman, who brought the project into the company.
Belgrad has praised the MGS property, saying it is "loaded with well-developed, intriguing characters and is one of the first games to ever use cinematic tools in its storytelling".
CAA brokered the deal on behalf of Konami.
Since its debut on PSOne 1998, the Metal Gear Solid series has generated worldwide sales of more than $1 billion and shifted 20 million units.