Sweeney, 24, will star opposite Dakota Johnson, 32, in Madame Web, sources tell Deadline.
Euphoria star Sydney Sweeney is due to make her Marvel debut.
In the Marvel comics, Madame Web is portrayed as an elderly woman who suffers from a neurological condition known as myasthenia gravis.
It is not yet confirmed who Sweeney or Johnson will portray in the film, but it has been reported that Johnson will take on the titular role of Madame Webb.