The Source Code actor would replace the outgoing Dominic Cooper, who is dropping out due to scheduling conflicts, according to Variety.
Gary Oldman and Amber Heard have already joined the cast of the film, to be directed by Albert Hughes.
Motor City follows an ex-convict released from prison who seeks the men who framed him for the crime.
Dominic Cooper recently replaced Clive Owen in financial thriller Cities.
Jake Gyllenhaal will next be seen in cop drama End of Watch, which will be released on September 28 in the US.
> Jake Gyllenhaal to star in The Way, Way Back?