Before Farrell, 39, Ewan McGregor was previously offered the role.
Warner Bros. Is also eyeing Monica Bellucci to play sorceress Madame Xanadu in the DC superhero team-up movie, reported Aceshowbiz.
Del Toro, who also wrote the screenplay of the movie, had to drop out of the project due to scheduling conflicts with the production of "Pacific Rim 2".
The titular team of the "Dark Universe" includes Constantine, Swamp Thing, Deadman, Zatanna and Etrigan The Demon.
Scott Rudin is reportedly on board as producer.
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