The actress has been confirmed for a starring role in Anders Morgenthaler's English-language movie, according to The Hollywood Reporter.
The Oscar-winner will play Maria, a successful career woman who struggles to have a child after discovering that she is infertile.
Her attempts to adopt result in her becoming entangled in a world of illegal child prostitution in Eastern Europe.
Basinger recently wrapped filming with Liam Neeson on Third Person.
She will also appear in the upcoming Grudge Match with Sylvester Stallone and Robert De Niro and One Square Mile.
Shooting on Petit recently began in Hamburg.