Suge shared the big news Monday during a phone call from his state prison in San Diego ... revealing Nick's plan to author the story of his life.
So, why Nick?!? Suge says he considers him one of the most respected people in Hollywood, and that's why he's trusting Nick with the monumental biography task.
Nick's joining Ray J in helping Suge cash in on his legacy ... as we first told you, the former Death Row Records boss signed over his life rights to Ray J, giving Ray the green light to use his likeness in movies, music, publications and all types of media.
Suge clarified that Ray J won't be the only one calling the shots, saying his fiancee Toi-Linn Kelly has his power of attorney. However, we've seen the contract with Ray, and it gives him creative control.
In fact, Suge says Ray is also going to handle the future of Death Row Records, and it sounds like there's a new album in the works.
Suge sounds confident he'll be out of prison sooner than later. As we've reported, he struck a 28-year plea deal in his murder case last year, but due to prison overcrowding and getting credit for time served ... he could be released in little over a decade.
One thing's for certain ... Suge's got a helluva tale, so Nick's got his work cut out for him.