The studios announced their collaboration on the project Friday.
Paramount will handle domestic distribution, while Warner Bros. will distribute the film internationally.
Written by Jonathan Nolan, the movie is to be released Nov. 7, 2014. It is described as "a heroic interstellar voyage to the furthest reaches of our scientific understanding."
"As a filmmaker and storyteller, Chris has continuously entertained the world with his extraordinary and unparalleled talents. I am pleased beyond measure to welcome him to the Paramount Pictures family," Brad Grey, chairman and chief executive officer of Paramount Pictures, said in a statement, adding the film's release "is the perfect way to start the Thanksgiving and holiday movie season for audiences around the world."
"Christopher Nolan is truly one of the great auteurs working in film today, and we're extremely proud of our successful and ongoing collaboration with him and [producer] Emma Thomas. We are excited to be teaming with Paramount, and look forward to working with the Nolans, and producer Lynda Obst, on this extraordinary new project," said Jeff Robinov, president of the Warner Bros. Pictures Group.