Michael Douglas will reprise his Academy Award-winning role as ruthless financial player Gordon Gekko in the new picture, which is tentatively titled Money Never Sleeps.
Transformers star Shia LaBeouf is set to play an ambitious trader who is engaged to Gekko's daughter and Charlie Sheen is rumoured to be in talks to reprise his role as Bud Fox, alongside his father Martin, who played his on-screen dad in the 1987 original.
And now Langella, 71, has joined the Oliver Stone production as a mentor to LaBeouf's character, according to Variety.com.
Josh Brolin is also in talks to join the cast, playing the part turned down by Javier Bardem.
Filming on the new movie is set to begin later this year (09).