According to The Hollywood Reporter, the actor will play the title role in the film, currently dubbed as "Reagan" , which will explore the ex-POTUS' life from boyhood through his presidency of both the US and the Screen Actors Guild.
Sean McNamara will direct the biopic from a script by Howie Klausner and Jonas McCord. The feature is based on two biographies from author Paul Kengor.
"Reagan was a fascinating human being and this movie captures his humanity. We're making a movie for Republicans and Democrats alike since Reagan transcends politics. I can't wait to get started," the actor said.
Talking about choosing Quaid for the role, Joseph said, "Dennis was always our first choice. He's one of the great actors of our time."
The movie is being produced by Mark Joseph, who met 50 of the former president's friends, confidantes and cabinet members, including his pastor and the surgeon who saved his life after he was shot.
It is also expected to explore Reagan's time as governor of California, his role in the destruction of the Berlin Wall and his final days dealing with Alzheimer's disease. It will also delve a bit into John Hinckley Jr, whose obsession with actor Jodie Foster led to his attempted assassination of the Republican president in 1981.
David Henrie, best known for playing teen Justin Russo in the children's show "Wizards of Waverly Place", will essay the role of a young Reagan. The film also stars Jon Voight.
Edwin Meese, who worked for Reagan for a few decades, ultimately rising to US attorney general, is an unofficial adviser on the movie.
The shooting is expected to begin this autumn.
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