The project is being led by Ubisoft Motion Pictures, the company's film and TV division, which has partnered with Malaysian theme park developer RSG.
"Together, we are creating a place where every guest is a player, every ride is a playground, every visit is a game," Jean de Rivieres, senior vice-president of Ubisoft Motion Pictures, said in a press release on Monday.
RSG has already co-developed another theme park in Malaysia, called Movie Animation Park Studios.
"In RSG, we've found a partner with a successful track record in working with international brands, a shared ambition to design the family destination of the future and a wealth of expertise in theme park development," said de Rivieres.
Ubisoft's park will not be the first video game-based theme park. Angry Birds Land (based on the popular mobile game developed by Finnish company Rovio Entertainment) opened in 2012 in Finland and the U.K. also hosts an Angry Birds Activity Park.
In addition, long-standing Japanese video game developer Nintendo announced in May that it was developing rides with Comcast-owned Universal Parks & Resorts.