The 35-year-old actor is likely to play a scientist in the Sony movie, reported Variety.
"Venom" also features Michelle Williams and Riz Ahmed.
"Fifty Shades of Grey" scribe Kelly Marcel is also onboard to co-write the project with Scott Rosenberg and Jeff Pinkner.
Sony chairman Amy Pascal said Venom exists within the same universe as "Spider-Man".
Her statement is in contrast to Marvel president Kevin Feige's comments that the Venom movie has "no plans" at the present to bring the character into the franchise's universe.
The character first appeared on the big screen in Sam Raimi's "Spider-Man 3" and was played by actor Topher Grace.
Directed by Ruben Fleischer, the film will arrive in theatres on October 5 next year.
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