Dax Shepard and Michael Pena will lead the revamped reboot as motorcycle cops working for the California Highway Patrol.
D'Onofrio is now in talks to play a vengeful former cop who controls a car theft ring in the upcoming movie, according to The Hollywood Reporter.
The actor is familiar with portraying crime bosses, having just come off a role as the slum lord Wilson Fisk in Netflix's "Daredevil".
Shepard is lined up to write and direct the "CHiPs" remake, as well as step in for classic series star Larry Wilcox as the by-the-book cop Jon Baker.
No release date has been set yet for the "CHiPs" reboot.