Sir Kenneth Branagh will direct the upcoming fifth instalment in the Tom Clancy film adaptations, with Chris Pine playing the lead role.
Costner's role would be a new character made for the movie, and will be close to the CIA head Admiral Greer (James Earl Jones) in Patriot Games, reports Deadline.
Jones is likely to reprise his role for the film, but Costner will play Ryan's mentor that recruits him in the prequel.
The currently-untitled Jack Ryan movie is expected to enter production later this year.
Three Days to Kill is an action project set in France, and follows Ethan Renner, a government assassin who is facing death. His final hope is to reconcile with his daughter while also tackling one final mission.
The film is written by Luc Besson and Adi Hasak, while McG may be hired as a director.
Kevin Costner will star as Jonathan Kent in Man of Steel, which arrives in cinemas on June 14, 2013.