Keanu Reeves will also be back as Wick, the hitman, who in the first movie comes back from retirement after his dog gets killed and goes on a vengeance-fuelled journey back to his old employer.
Chad Stahelski is directing the movie, which will be shot in New York and Italy, said The Hollywood Reporter.
McShane, 73, who recently wrapped shooting season six of "Game of Thrones", was last seen in the recent season of Showtime's Ray Donovan.
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