The 50-year-old film director is bringing back the cast of 'Hell Or High Water', which landed him four Oscar nominations, for the new film based on the real-life story of the Scottish King Robert the Bruce, according to Deadline.
The royal figure has already appeared in numerous films including 'Braveheart' - in which Mel Gibson portrayed William Wallace - but the upcoming project will see 36-year-old hunk take on the lead role.
And it is rumoured Ben Foster, 36, is also in talks to star alongside the dark-haired actor in the film.
Mackenzie has also penned the script and it has been reported he is planning to write a gripping plot in a bid to boost the king's reputation, which is believed to see him win Scotland's freedom from England in a brutal fight against the British troops as well as the Catholic Church.
It has also been reported the project will not only depict brutal battle scenes, but will also include a major love story between the king and his queen Elizabeth de Burgh - the daughter of an England-friendly Irish noble - who helps King Robert to eradicate the British from his land.
Although other details about the movie have remained under wraps, it is believed Netflix is planning to back the period drama.
And it is rumoured Mackenzie is hoping to start filming 'Outlaw King' in August this year, which will see him and the full cast shoot scenes in Scotland.