Relativity International will produce the Good Films thriller and will be directed by Brad Furman.
Director Furman previously worked with Cranston on film "The Lincoln Lawyer."
U.K. production Good Films and sister development and packaging label George Films said in a statement on Wednesday that the "Breaking Bad" and "Argo" lead would star the first of the seven films planned by the company.
Good Films founder Miriam Segal will produce the film.
Principal photography is scheduled to begin in January 2015 in London, Paris, and Florida.
WME will be handling the domestic sales while Relativity International will present the project to distributors at the American Film Market.
The film is described as an investigative thriller based on Robert Mazur's autobiography of the same name.
Cranston will play Customs and Excise Agent Mazur and his undercover alias, Bob Musella.
Cranston's involvement in the film stems from a relationship that he developed with the director while shooting The Lincoln Lawyer, the company said.
"Brad and I have invested a great deal of time ensuring that the casting on this film is absolutely perfect, and we feel we've done just that," said Good Films Founder Segal in a statement. "Bryan's talent is immeasurable, and he continues to demonstrate his versatility and skill as an actor. The Infiltrator is a film that demands a dynamic and complex leading man, and we could not be more excited to have him on board."
