The film will be based on the book "The Snowden Files," written by Guardian journalist Luke Harding and detailing Snowden's evolution into one of the most  famous leakers in U.S. history. Moritz Borman will produce the film with Harding and other Guardian journalists serving as production and story consultants.

Stone's adaptation will compete with another Snowden film, based on the book "No Place to Hide" by Glenn Greenwald, the former Guardian columnist who was on the receiving end of Snowden's leaks. That movie will be produced by James Bond producers Michael Wilson and Barbara Broccoli.

Stone, who has previously called Snowden a "hero," said in a statement, "This is one of the greatest stories of our time." The director has directed movies about John F. Kennedy and George W. Bush as well as documentaries on Fidel Castro and Hugo Chávez.

"I'm glad to have the Guardian working with us," Stone said.