The 45-year-old actor is set to take on the role of pirate Blackbeard in the upcoming Peter Pan origin story, reports Variety.
He will replace the traditional villain pirate Captain Hook in the movie which is due for release in June 2015.
Javier Bardem was originally slated for the part, but he decided to pull out of the Warner Bros project.
Hook is expected to feature as an ally of Pan before betraying him in the final stages of the film.
Jackman will next be seen reprising the role of Wolverine for the seventh time in X-Men: Days of Future Past.