According to The Hollywood Reporter, the Mexican actors have joined a cast that also includes Genesis Rodriguez as Ferrell's love interest, Pedro Armendariz Jr, Hector Jimenez and Adrian Martinez.
Luna will play Ferrell's brother and Garcia Bernal will appear as his family friend.
The pair first worked together on the 2001 film Y tu mama tambien. They last collaborated on the 2008 feature Rudo Y Cursi.
Padre will reportedly mimic the overdramatic storytelling style of a telenovela.