Washington will play Professor Dovey, the Dean of Good, and Theron will play Lady Lesso, the Dean of the School for Evil.
Life of Pi writer David Magee and Laura Solon, who penned Let It Snow for Netflix, will write the screenplay. Feig will also produce through his Feigco banner, along with Laura Fischer, Joe Roth, Jeffrey Kirschenbaum and Jane Startz. Zack Roth and Patricia Riggen will exec produce with Chainani.
Theron was last seen in the Netflix feature The Old Guard, while Washington recently appeared in the Hulu series Little Fires Everywhere.
Feig first made the casting announcement on his Twitter, writing, “I know what school I’m applying to! So thrilled to welcome Charlize Theron and Kerry Washington to the School for Good and Evil! Everyone, prepare to get schooled!”