Michael Caine and Jennifer Garner have signed up to music-themed drama Imagine.
Pacino has been cast as an ageing 1970s rocker who decides to straighten out his life and get back in touch with his estranged son, when he finds an undelivered letter written to him by the late Beatle John Lennon.
Annette is tipped to play his love interest, while Bobby is rumoured to portray his screen son and details about Michael and Jennifer's roles are currently unknown.
Crazy, Stupid, Love writer Dan Fogelman is making his directorial debut with Imagine, which is based on his own script.
Production is expected to begin in the summer in Los Angeles.
Michael, who reprised his role as butler Alfred Pennyworth in Christopher Nolan's third Batman film The Dark Knight Rises, will next star in magic comedy Now You See Me and drama Mr Morgan's Last Love. The 80-year-old actor is also attached to appear in Wally Pfister's directorial debut, Interstellar.
Jennifer will next be seen in drama Dallas Buyers Club with Matthew McConaughey and Jared Leto.