The 65-year-old actor will reprise his role of the killer cyborg in the fifth instalment of the series, reported Sun online.
Film studios Paramount, Skydance Productions and Annapurna Pictures have rebooted the franchise with a 'stand-alone trilogy' based on the classic sci-fi action films.
A director has yet to be announced but the new movie is titled 'Terminator' and is slated for release on June 26, 2015.
Launched in 1984 with Schwarzenegger as the title character, 'Terminator' spanned three subsequent films, which have earned over USD 1 billion at the worldwide box office.
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