Lin will direct and produce the film for his company, Barnstorm Pictures. Playwright Hwang will write the screenplay and is set to co-produce the film with Bobbi Thompson.
"As soon as I saw Chinglish on Broadway, I began to envision this smart and insightful cross-cultural comedy as a film. I'm excited about working with David to bring this very timely story to the screen, " Lin said in a statement.
"I've loved Justin's work ever since he burst on the scene with 'Better Luck Tomorrow,' and it feels very right to be collaborating with him on the movie verision of my play," added playwright Hwang.
Barnstorm has a first-look deal with Universal.
The play began previews Oct. 11, 2011, and opened Oct. 27 at the Longacre Theatre. By close, it played 128 performances. The starless production, performed in English and Mandarin (with projected English supertitles), struggled at the box office, in spite of reviews that were encouraging.
Chinglish arrived on Broadway following a summer world premiere at Chicago's Goodman Theatre, where the play was embraced by critics. Hwang's play won the coveted Chicago Jeff Award in the category of New Work.