20th Century Fox announced earlier this year that an X-Men spin-off movie based around mercenary Deadpool will hit cinemas in 2016.
Reynolds, 38, previously played Deadpool's alter-ego Wade Wilson in 'X-Men Origins: Wolverine', and rumours have swirled for several years that he will play the character again in a spin-off, reported Deadline.
The actor fuelled those rumours even further by sharing an image of Deadpool's iconic red-and-black mask on Twitter
"Uh... It's Chimichanga Time," Reynolds tweeted in a reference to Deadpool's catchphrase.
Producer Simon Kinberg recently hinted that 'Deadpool' will be a "massive" part of the X-Men franchise moving forward.
'Deadpool' will release in cinemas on February 12, 2016 in the US and in the UK.