The 41-year-old actor is reportedly in final negotiations with Disney bosses to portray Shere Khan, the villainous jungle cat who is on the hunt for the story's protagonist Mowgli.
The film is a revamp of the beloved 1967 animated classic, which is based on Rudyard Kipling's book of the same name.
The 'Iron Man' director, Jon Favreau, is helming the project, which will combine live-action and visual effects in a similar vein to 2009's Avatar.