The yet-untitled remake will be produced by Gemini Film Circuit, which had earlier remade Rajkumar Hirani's "Munnabhai M.B.B.S." and "3 Idiots" as "Vasool Raja M.B.B.S." and "Nanban", respectively.
"Gemini Film Circuit has acquired the film's remake rights and Kamal Haasan is expected to play the lead. Gemini had already remade two of Hirani's films and they were really impressed with 'PK' too," a source close to the production house told IANS.
Haasan is yet to take a call on the director for the project, while the rest of the cast will be finalised soon.
"Kamal sir will choose the director of his choice. He might even direct it," said the source.
"PK", which was produced by Vidhu Vinod Chopra, and starred Aamir Khan, turned out to be biggest grossing Indian film.
Meanwhile, Haasan is currently the release of his Tamil films "Uttama Villain" and "Papanasam".