However, former "Batman" star Michael Keaton is no longer in talks to play the main baddie in the upcoming remake, reported Ace Showbiz.
Downey Jr will reprise his superhero role as Tony Stark or Iron Man.
He joins Tom Holland who is tapped to replace "The Amazing Spider-Man" star Andrew Garfield as Peter Parker. Meanwhile, Marisa Tomei is attached to play Aunt May.
The reboot is scheduled to arrive in North American theaters on July 7, 2017.
Jon Watts is directing the film and Zendaya Coleman is tapped to play the role of Michelle.
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