'Everybody Here Wants You' will be co-produced by the late music legend's mother, Mary Guibert, and has been given the seal of approval of his estate.
The upcoming film has been described as the “the only official dramatisation of Jeff’s story”.
Mary will co-produce along with the manager of his estate, Alison Raykovich.
Buckley's parent said in a statement: “This will be the only official dramatisation of Jeff’s story which I can promise his fans will be true to him and to his legacy. Thankfully, my determination to assemble all the right participants, no matter how long it took, is about to culminate in the best way possible.”
Richard Story of Sony Music Entertainment, owners of Buckley’s music, added: “Jeff Buckley was a once-in-a-lifetime artist whose music touched people’s hearts and changed their lives.
“Sony Music has been honoured to bring Jeff’s music to the world and now, Everybody Here Wants You is providing a unique opportunity to introduce Jeff to a whole new generation of fans.”
The 'Hallelujah' singer tragically passed away in 1997, aged 30, by accidental drowning.
While this is the first official biopic, various films have been made about Buckley's life, including 2012's 'Greetings From Tim Buckley', which saw 'You' star Penn Badgley portray the late singer, and 2009’s 'Amazing Grace: Jeff Buckley'.
In 2019, Buckley's entire back catalogue hit streaming services for the 25th anniversary of 'Grace'.
More than 50 songs were made available to mark the milestone of the seminal 1994 LP, which features the late star's acclaimed version of Leonard Cohen's 'Hallelujah'.
His mother hoped unleashing her son's vault would bring his music to generations to come.
She said at the time "The music industry has made a couple of sea changes since Jeff departed the planet.
"I don't know if he foresaw even a glimpse of the current state of affairs.
"Since all we have of his true remains is what's in "the vault", I'm thrilled that we can finally fling open the doors of that vault and make as much as possible available to Jeff's fans: the old ones and the new ones, and the ones who have not yet been born."