According to The Sun, The X Factor group will star in either a scripted comedy or a documentary, featuring footage of the lads in concert.
Band member Harry Styles has claimed that the flick will give their fans a chance to get up close and personal with 1D, telling the tabloid: "The film could be exciting. My hair would be poking in your eye.”
Styles and the rest of the group - Niall Horan, Zayn Malik, Louis Tomlinson and Liam Payne - are expected to start shooting the movie in 2013.
A source explained: "It’s early days but it’s something that their management and label are excited about.
“It may be documentary footage mixed with a concert film, or it could even be a comedy caper in the style of oldThe Monkees films.
“All options are open, though they’re unlikely to get cracking on shooting it until next year.”
1D's movie will apparently be similar to Bieber's Never Say Never - which made a cool £60 million at the box office.
The insider added: “US film experts are speculating that the 1D film would be similar to Justin’s movie and will be a big money-spinner for the boys.”
The Sun claims One Direction's flick will be released on 8th November next year, going head-to-head with comic book blockbuster, Thor 2.
It is thought the One Thing band want the film to be directed by Ben Winston, who worked with 1D on their ITV2 doc last Christmas.
There is still no official confirmation from the boys' camp regarding the movie, but keep it MTV.co.uk for more on this story.