Christian Bale has already signed up to play Moses in the film.
According to The Hollywood Reporter, Zero Dark Thirty and The Great Gatsby actor Joel could play the Egyptian ruler Ramses in the film.
Exodus will shoot in Spain, Morocco and England, with Ridley also on board as co-producer.
Aussie actor Joel is set to star alongside Natalie Portman and Ewan McGregor in Jane Got A Gun and with Michelle Williams in The Double Hour.
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You're highly sentimental. Listening to your favourite music from childhood or flipping through old books may cause laughter to erupt or tears to flow. Don't be ashamed to show your soft side. Although you're extremely headstrong and determined, you also have a heart of gold. Many people don't know this about you, because they're too intimidated to make friends. Fortunately, you have a group of loved ones who know the real you. Arrange to meet with your favourite people for a festive dinner.More