Bruce Willis may join the cast of "G.I. Joe 2: Retaliation," according to The Hollywood Reporter.
Willis is in talks to play the lead role of General Joe Colton, the character that ruled comic books and action figures more than two decades ago.
If negotiations are successful, Willis will join a star-studded cast that includes Dwayne "The Rock" Johnson, who will portray heavy machine gunner Roadblock. Adrianne Palicki from "Friday Night Lights" will also star in the upcoming sequel as Lady Jaye.
"G.I. Joe: The Rise of Cobra" was released in 2009 and grossed more than $300 million worldwide. The first film starred Channing Tatum, Sienna Miller and Joseph Gordon-Levitt.
Lorenzo di Bonaventura will return as producer in "G.I. Joe 2," with Jon Chu as the director. Chu's most recent project was "Justin Bieber: Never Say Never," a 3-D documentary about the young pop star.
Willis, 56, is perhaps most famous for his role as action hero John McClane in the "Die Hard" film series. A fifth installment has been rumored to be in the works.
"It's probably going to happen 2011 . . . we have a script. They're making a couple changes right now," he told MTV News in October 2010.
News of Willis joining the "G.I. Joe" sequel comes less than two weeks after Paramount announced the film's official title.
"G.I. Joe 2: Retaliation" is scheduled for a June 29, 2012 release.