Jennifer Lawrence was unable to join the project due to her busy schedule, reported Ace Showbiz.
The "Ocean's Eleven" reboot will be a continuation of the George Clooney-led films, with Sandra starring as Danny Ocean's sister.
With help from her right-hand woman (Cate, playing the equivalent of Brad Pitt's Rusty), Sandra's character will form a team of thieves to steal a necklace from the Met Ball in order to frame a villainous gallery owner.
The project is unofficially titled "Ocean's Ocho", indicating there are eight thief protagonists instead of the traditional eleven.
Gary Ross is directing, producing and writing the screenplay with "Queen & Country" scribe Olivia Milch. Shooting is expected to begin next fall.