Fiennes to helm Shakespeare's Coriolanus
The English Patient star is currently scouting for potential filming locations in eastern Europe, according to Variety,
It is thought that Fiennes will take the role of a soldier who is persuaded by his mother to run for the Roman senate, which eventually becomes his downfall.
Vanessa Redgrave is also believed to be in discussions to play Fiennes's mother Volumnia.
Fiennes is currently starring alongside Kate Winslet in The Reader and will soon reprise his role as Lord Voldemort in Harry Potter And The Half Blood Prince.
Kate Winslet scooped the best actress award at the Baftas this week for her performance in the World War Two drama, in which she plays a Nazi war criminal.
She dedicated the honour to producers Sydney Pollack and Anthony Minghella, both of whom died before its release.