The heartwarming tale, made by Working Title Films, is about a down-on-his-luck dad who needs to discover his "inner Father Christmas" in order to win back the trust of his children.
The project is being scripted by Richard Bean, the playwright behind West End/Broadway hit One Man, Two Guvnors, and will reunite Corden with the writer, as he played the lead role in the Tony Award-winning play.
Shooting is set to begin in New York and London next year (13) and the film will be produced by Kris Thykier, who is currently working with Corden on a biopic about Britain's Got Talent star Paul Potts, called One Chance.
Corden says, "All my life I've wanted to make a big family Christmas movie. To be making one with a company like Working Title Films is a dream come true. Re-teaming with Richard Bean and Kris Thykier
is like all my Christmases have come at once. I can't wait to start."