Winstone and his long-term manager, Michael Wiggs, are also on board as co-producers.
The film will mark Waddingtons feature directorial debut.
Nicknamed The Whirlwind because of his flamboyant style of play, White is one of Snookers most popular exports.
Jimmy WhitePhoto by VCG/VCG via Getty Images
He is best known for reaching the final of the World Championships on six occasions without winning.
Ray Winstone is represented by Michael Wiggs at Modern Collective.
Steven Waddington is represented by Ness Evans at 42 and Penelope Killick at The Artists Partnership.
