The 71-year-old actor will feature alongside Casey Affleck in the film adaptation of John Williams' critically acclaimed 1965 novel of the same name, according to The Hollywood Reporter.
While Affleck will play the title role of William Stoner, an impoverished-farmer-turned-academic, who emerges as an unlikely hero while wading his path through the first half of the 20th century, details of Jones' character are yet to be revealed.
The film will be directed by "Atonement" helmer Joe Wright from a script adapted by Andrew Bovell.
Jason Blum, Charles S Cohen of CMG and Daniel Battsek of Film4 will serve as producers, with Ethan Hawke as executive producer.
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