The staging, which will be seen at the Royal Shakespeare Theatre in Stratford-upon-Avon, will reunite Stewart with his Macbeth director, Rupert Goold. Stewart, according to the London paper, has agreed to play the role but has yet to sign a contract.
Performance dates are scheduled for May 13-Oct. 4, 2011.
"In a city built on business, merchants and traders gamble on deals that can make a fortune or lose them everything," according to the RSC. "When Antonio bets on a venture that fails to repay, he is forced to borrow money from a man he despises. But debts must be repaid. When cultures clash, a business deal turns to revenge and a wronged father seeks a deadly retribution."
Stewart is well-known for his work on "Star Trek: The Next Generation" and in Broadway's The Ride Down Mt. Morgan, Macbeth and A Christmas Carol. He was Tony Award-nominated for Macbeth.
There has also been talk about bringing the current Broadway production of Merchant, which stars Al Pacino, to London.