The 34-year-old "Better Call Saul" actor will star opposite Tom Holland, Marisa Tomei and Michael Keaton, reported Variety.
Jon Watts is directing from a script written by "Vacation," helmers John Francis Daley and Jonathan Goldstein.
Amy Pascal and Kevin Feige are producing the project.
Holland is playing Peter Parker and Tomei will portray Aunt May while Keaton is on board for the role of a villain.
Production is expected to start this summer with the film hitting theaters on July 7, 2017.
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