She has been confirmed for a role in Ridley Scott's The Counselor, reports Deadline.
Cruz is also expected to reteam with Pedro Almodovar on Los Amantes Pasajeros (The Brief Lovers).
The actress had already been rumoured for Scott's next movie, in which she will appear opposite Michael Fassbender, Brad Pitt and her husband Javier Bardem.
The Cormac McCarthy-penned film centres around a southern lawyer (Fassbender) who finds himself embroiled in the drugs trade.
Los Amantes Pasajeros is said to be set around an affair on an airplane.
Cruz has collaborated with Almodovar on numerous films including Broken Embraces, Volver, All About My Mother and Live Flesh.