The project will mark Streisand's first film directing project since "The Mirror Has Two Faces" in 1996.
It will tell the story of Catherine, a German princess married to the inept and abusive Czar Peter III. When her husband shows himself incapable of ruling the vast nation and is assassinated, Catherine rises to the occasion, becoming the longest-reigning czarina (1762-1796) and bringing Russia into the 18th century.
No casting has been announced and no production timetable or opening date were specified. The script will be written by Kristina Lauren Anderson. Gil Netter will produce.
As a director, Streisand’s films include "The Prince of Tides" and "Yentl," the latter of which had the distinction of being the first major studio film to be directed, written, produced by a woman, with a woman as star. Streisand won the Golden Globe as Best Director for the film.
Streisand began her career as an usher at Broadway's Lunt-Fontanne Theatre, moving on to perform in the nightclubs of Greenwich Village. She appeared in two Broadway musicals, I Can Get It for You Wholesale and Funny Girl, before heading to Hollywood. She starred in film versions of the musicals "Funny Girl"; "Hello, Dolly!" and "On a Clear Day You Can See Forever."