Marc Webb, who directed the recent "Spider-Man," has also signed on for the Columbia Pictures film, which will feature a screenplay by Alex Kurtzman, Roberto Orci and Jeff Pinkner that is based on a previous draft by James Vanderbilt.
The film, which is scheduled to begin production in early 2013, will release in 3D on May 2, 2014. Emma Stone is also in talks to reprise her role as Gwen Stacy.
Garfield was nominated for a 2012 Tony Award for his performance in Death of a Salesman. His other film credits include "The Social Network," "Never Let Me Go" and "The Imaginarium of Doctor Parnassus," among others.
The "Spider-Man" sequel will be produced by Avi Arad and Matt Tolmach.