Farrell will star opposite Anthony Hopkins (Hannibal) in the supernatural thriller, which boasts a script penned by Sean Bailey, Ted Griffin, James Vanderbilt and Peter Morgan.
Solace centers on an FBI detective (Farrell) who seeks the help of a retired and reclusive doctor (Hopkins) to help solve a series of grisly murders. Afonso Poyart (Two Rabbits) is attached to direct.
The film is due to enter production in May, with a late 2014 release on the cards.
Farrell will next be heard in Epic, while Hopkins stars as Alfred Hithcock in Hitchcock, which opens in the UK this Friday.