Balachander, known for shaping Kamal's career, worked with the actor in over 30 films since 1973 Tamil drama "Arangetram".
"It's true that Balachander will be playing an important role. He will be sporting a beard for it. On Kamal's personal request, he agreed to be part of the project. It will be a role very close to his real life personality," a source from the film's unit told IANS.
In 2010, Balachander had starred in Tamil romantic drama "Rettaisuzhi".
"Uthama Villain", written by Kamal, will be directed by his best friend Ramesh Arvind, also a student of Balachander.
The film will follow the story of an ageing superstar, which will be played by Kamal.
"The film will only go on floors after the release of 'Vishwaroopam 2'. Kamal has also roped in his favourite dialogue writer 'Crazy' Mohan for the film," the source added.
In the past, Mohan penned dialogues for several comedies starring Kamal such as "Michael Madana Kama Rajan", "Apoorva Sagodharargal", "Avvai Shanmugi" and "Panchathantiram".