Instead of building the ark, the 37-year-old actor will work with Terrence Malick on a pair of his upcoming films "Lawless" and "Knight of Cups" after he wraps up shooting for "The Dark Knight Rises", which releases July 2012.
In place of Bale, Aronofsky is now hoping to snap up German actor Michael Fassbender to play the righteous figure. Fassbender has starred in some major films like "X-Men: First Class", "Jane Eyre", "A Dangerous Method" and "Inglorious Basterds".
The actor has purportedly already begun discussing the role with the "Black Swan" director, though no official proposal has been made yet.
Aronofsky's film will follow the biblical account of Noah and begin production next spring.
The Oscar-nominated director previously stated, "Since I was a kid, I have been moved and inspired by the story of Noah and his family's journey.
"The imaginations of countless generations have sparked to this epic story of faith. It's my hope that I can present a window into Noah's passion and perseverance for the silver screen."
Paramount Pictures and New Regency Productions announced earlier in October that they would distribute the film, and that a graphic novel of the story would be published before the film's release.
John Logan will edit the script co-written by Aronofsky, who has penned such acclaimed films as "Requiem for a Dream", "The Fountain", and "Pi".
It is not certain whether Fassbender will take the upcoming role due to his packed schedule as well. In addition to starring in Ridley Scott's "Promotheus" and Steven Soderberghs "Haywire" in 2012, he will also begin work on "At Swim-Two-Birds" and "Twelve Years A Slave".