The production on the film is expected to start soon, Variety reported.
Munteanu is set to play Ivan Drago's son.
Dolph Lundgren played Russian boxer Drago in "Rocky IV", is the character that killed Apollo Creed, Jordan's father, in a boxing match.
Munteanu also joins Tessa Thompson, who will also return for the sequel, reprising her role as Bianca.
Steven Caple Jr will direct from an original screenplay, written by Stallone and Cheo Hodari Coker based on characters from the "Rocky" franchise.
The project, being produced by Irwin Winkler, Charles Winkler, William Chartoff, David Winkler, and Kevin King- Templeton, is scheduled to be released on November 21, 2018.
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