The Four Weddings And A Funeral star has teamed back up with director Marc Lawrence - who he worked with on Two Weeks Notice, Music And Lyrics and Did You Hear About The Morgans? for a new untitled rom-com project.
Now movie blog The Wrap reports Marisa, star of The Wrestler and My Cousin Vinny, is set to play his love interest in the film.
Hugh will star as Ray Michaels, a successful British script writer, who in 1988 had it all and won an Oscar for Best Screenplay.
The film will see him 15 years later, washed up, divorced and broke, and forced to take a job as a tutor at a small college to make ends meet.
What he doesn't expect is to fall for a single mother who has gone back to school - the part Marisa is up for.
The Ides Of March actress will next be seen in family comedy Parental Guidance with Billy Crystal, out in December, while Hugh appears in ensemble cast drama Cloud Atlas.