Ebersole, according to the Associated Press, will play Leonardo DiCaprio's mother in the drama, which will be directed by Martin Scorsese.
The film is based on the memoir of a New York stockbroker, who detailed his rise and fall.
Ebersole will also be seen opposite Robert De Niro in the upcoming film "The Big Wedding."
For her work in the dual roles of Edith Bouvier Beale and "Little" Edie Beale in the Off-Broadway and Broadway productions of Grey Gardens, Ebersole was honored with the Tony Award, the Drama Desk Award, an Outer Critics Circle Award, an Obie, a special citation from the New York Drama Critics Circle and the Drama League's 2006 Distinguished Performance of the Year Award. She also received a Tony Award for Best Performance by a Leading Actress in a Musical for her work as Dorothy Brock in the hit revival of 42nd Street and a 2003 Tony nomination for her performance in Lincoln Center's production ofDinner at Eight. Ebersole's other Broadway credits include Blithe Spirit, The Best Man, Getting Away with Murder, Harrigan 'n Hart, Camelot, Oklahoma!, On the Twentieth Century, I Love My Wife, Angel Street and the City Center Encores! productions of A Connecticut Yankee, Ziegfeld Follies of 1936, Lady in the Dark and Allegro. Ebersole was also seen Off-Broadway in Talking Heads and in the City Center Encores! production of Applause.
Ebersole will also be part of Playbill's Broadway on the High Seas 2, a ten-day trip through Argentina, Uruguay and Brazil featuring entertainment from a host of Broadway favorites, launching Dec. 6. Read more about it here. (It's sold out, but a starry 2013 cruise is now booking.)