The Oscar winner and his producing partner Grant Heslov will also oversee the movie, which has been was adapted for the screen by "The Revenant" screenwriter Mark L. Smith, according to Deadline.
Filming is scheduled to begin in October.
Clooney will play a lonely scientist stationed in the Arctic in the movie.
"Grant and I couldn't be more excited to be involved with this incredible project," Clooney says. "Mark is a writer we've long admired and his script is haunting. We're thrilled to be working with our friends at Netflix as well."
Clooney is currently enjoying success with another streaming site project after his six-part limited series "Catch-22" debuted on Hulu earlier this year.