Besson made the announcement Saturday night via his Instagram account.
Besson will write and direct, while Virginie Besson Silla will produce on behalf of EuropaCorp, which will finance, produce and distribute.
The graphic novel — set in the 28th century, when humanity discovered how to time-travel — was created by Pierre Christin and Jean-Claude Mezieres in 1967 and has since sold more than 10 million copies in 21 languages. Valerian and Laureline are agents of the Spatio-Temporal Service, which protects the planets of the Terran Empire.
A global release is planned for the summer of 2017.
Hawke starred recently in “Boyhood” and “Born to Be Blue.” He’s also starring in Sony-MGM’s remake of “The Magnificent Seven.”
Hawke is repped by CAA and MGMT Entertainment.