The actors will join forces to film He Went That Way, a movie based on serial killer Larry Lee Ranes and his three-day encounter with celebrity animal trainer Dave Pitts in 1964.
Pitts was with his famous Ice Capades chimp Spanky at the time and was the sole survivor of Ranes' killing spree.
Based on Pitts' version of events and Conrad Hilberry's book Luke Karamazov, the film will be written by Evan M. Wiener and directed by Jeffrey Darling.
Elordi will play serial killer Bobby Falls, who is based on Ranes, while Quinto portrays Jim Goodwin, modelled on Pitts.
Spanky the chimp will be transformed into Zippy the chimp, who will be portrayed by a suited character actor and animatronics created by Legacy Effects.
"He Went That Way is a undoubtedly a journey of curious tensions and bonds between two and at times three interesting characters all on their own path," Darling told Deadline.
"A cinematic tale on the road across the US in the early 60s where people come with a rawness forged from the landscapes they inhabit. It is for our two leads Jacob and Zachary as well as myself, a great opportunity to explore with an improvised sensibility."
Quinto is set to appear in the next Star Trek sequel.
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