According to The Hollywood Reporter, Renner will play Gutt, "a self-styled master of the high seas", while American Idol judge Lopez has signed on to provide the voice for the sabre-toothed Shira, a love interest for Denis Leary's Diego.
Parks and Recreation regular Aziz Ansari and musician Drake as well as Wanda Sykes and Keke Palmer have also joined the cast for the animated feature, titled Ice Age: Continental Drift.
In addition to Leary, the list of stars announced to reprise their roles from the previous films include Ray Romano, Queen Latifah, John Leguizamo, Seann William Scott and Josh Peck.
Renner, who has been nominated for an Oscar for both The Hurt Locker and The Town, was recently confirmed as the lead actor for The Bourne Legacy. Meanwhile, Lopez topped People magazine's 'Most Beautiful' list earlier this month.
Ice Age: Continental Drift has been slated for a July 13, 2012 release and will be produced by Blue Sky Studios, whose last feature was Rio.
Watch the first two minutes of Rio below: