The biopic, written and directed by debutant Prajeesh Sen, will be shot in Kozhikode, Malappuram, Chennai and Kolkata, and will see 75 real footballers as part of the cast.
Jayasurya had been working out and learning to play football properly for the last three months to be in shape and prepare himself for the character.
"I've never done a biopic before. And I consider myself lucky to play the role of someone who has been the pride of the state," the actor said.
Director Prajeesh said that apart from the footballer angle, the film will also focus on Sathyan's personal life. Anu Sithara will play the female lead in Captain, which will be produced by TL George under the banner of Goodwill Entertainments.
Sathyan, who began his career in 1983, led India to gold medal in the 1995 SAF Games in Chennai. He committed suicide by jumping in front of a train in Chennai in 2006.