The script will be written by Vik Weet, while Daniel Schnider - the rapper's Crucial Films partner - will serve as a co-producer, reports Variety.
Thaw will tell the story of "an ancient evil that emerges from the rapidly melting ice in the Yukon".
The rapper is also set to release his third and final album Detox, which has been in the "final stretches" since last year.
Producer Swizz Beatz said that the release of the album is "worth the wait".
"Dre has amazing songs and I think everything is worth the wait," Beatz said. "He's a genius, he's a legend, and it's just no getting around that."
Watch the video for Dr Dre's 'I Need a Doctor' below: