As of yet the movie is untitled, but it is based on Stuart Baker's Life of Evel, a biography of the famed dare devil.
Tatum will also be involved as a producer in the film, which will be seventh time he has done that.
All three of his 2012 movies have, or are about to, hit the $100 million mark.
The thirty-two year old actor is proving himself to be able to play any role, whether it be action, comedy, romance, or drama.
Channing is currently one of the busiest actors in Hollywood.
He has three movies scheduled to come out in 2013 and two in 2014, with the Knievel movie making a total of four in production with no release date set yet.
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