The two actors are collaborating for an action film titled "Ex-Baghdad".
"This is going to be a great day when I walk on the set with Jackie Chan one of the greatest bravest action actors who ever lived! This has been a long time coming!" Stallone posted on Instagram.
The story centres around two former special forces soldiers, who must escort a group of civilians along Baghdad's 'Highway of Death' to the Green Zone.
"Need for Speed" director Scott Waugh is in negotiations to helm the movie.