Florian Zeller will direct the adaptation of his own play, according to The Hollywood Reporter.
Colman is fresh off winning the Best Actress Oscar for "The Favourite." She is next starring as Queen Elizabeth II in Season 3 of "The Crown," taking over for Claire Foy.
Hopkins, most recently of HBO's "Westworld," stars in the titular role, a mischievous and highly independent man who is aging but refuses all assistance from his daughter Anne (Colman). As the father tries to make sense of his changing circumstances, he begins to doubt his loved ones, his own mind and even the fabric of his reality.
The 2012 play, which Zeller wrote and directed, debuted in Paris before moving to Broadway and London's West End, where it won both Tony and Olivier Awards for Best Actor (for Frank Langella).
Filming for "The Father" is set to begin this month.