Filmmaker Morgan Spurlock, who made the anti-McDonald's documentary Super Size Me will direct the film.
It will chart the band's meteoric rise to fame since appearing on the UK version of The X Factor in 2010.
Spurlock said the film was an "incredible opportunity".
"To capture this journey and share it with audiences around the world will be an epic undertaking that I am proud to be a part of."
The band - which also includes Zayn Malik, Liam Payne, Harry Styles and Louis Tomlinson - also have the support of their former X Factor mentor Simon Cowell.
He will produce the film along with Spurlock, Ben Winston and Adam Milano.
The music industry mogul said: "I'm delighted we're making this film and Morgan is the perfect person to give that access-all-areas, behind-the-scenes look into what it's like to be One Direction today.
"What the band have achieved is incredible, they and their fans have made history around the world - this is for them."
- Bang! Showbiz