The 69-year-old actor will star as Hank Pym, the scientist, in his first Marvel film which will hit the theaters on July 31 next year, according to Marvel's website.
"With Hank Pym's rich history in the Marvel Universe, we knew we needed an actor capable of bringing the weight and stature to the role that the character deserves," said Marvel Studios President Kevin Feige.
"We felt incredibly relieved when Michael Douglas agreed to step into the part with the charm and fortitude he brings to every character he inhabits, and couldn't be more excited to see what he will do to bring Hank Pym to life," he added.
Hank Pym first appeared in 1962 comic issue. 44-year-old actor Paul Rudd will play the character of Scott Lang.
Rudd has been involved with the project since December, though he was originally attached to Douglas' character, Pym.
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