One Winter, starring Julian Dennison (Hunt for the Wilderpeople, Deadpool 2) and Minnie Driver (Good Will Hunting) is expected to be filmed in the city from September.
It appears several city centre streets, including a section of Princes St, will be temporarily closed for filming in October.
A spokesman for the production said the team was "really excited about One Winter".
"It's a special story that needs to be told. Dunedin, with its iconic architecture, is such an incredible backdrop for this important film."
A filming notification provided to area businesses and residents, and obtained by the Otago Daily Times, said filming in the affected streets was planned for the weekend of October 15 and 16.
The streets the production company was anticipating closing would be dressed with vehicles and props to suit the period in which the film was set, it said.
"This is a New Zealand production of a fictional period piece set in Dunedin that will be using local crew, extras and businesses wherever possible," the notification said.
The notification has been made on behalf of production company 1981 Ltd, which lists three company directors and shareholders: film producers Emma Slade, Sandra Kailahi and Angela Cudd, who are all producers on the film.
The Hollywood Reporter said the film would be directed by Paul Middleditch (Terra Nova, A Cold Summer) and Hamish Bennett (Bellbird).
Blue Fox Entertainment would handle international sales and would introduce the film in Cannes, it said.
Hollywood news website Deadline said Dennison would play 17-year-old Josh Waaka, a boy of mixed ethnicity who had been a passive bystander all his life until he was suddenly forced to stand up for himself, his family and his future.
Ms Cudd told Waatea News the film focused on the son of a Maori rugby legend being raised by his widowed Pakeha mother, looking for ways to reconnect with his Maori identity against the backdrop of tour protests.
"I definitely think it will be relatable in terms of reconnection because that’s a big thing in the moment and has been for a while in terms of people who have become disconnected from their taha Maori and want to reconnect but it’s a scary thing and I hope this opens a dialogue that helps people know it doesn’t have to be a scary thing," she said.
