Willis, Malkovich, Parker and Dame Helen Mirren will reprise their roles from 2010's RED, which centred on a former CIA operative (Morgan Freeman) who reassmbled his old team after being threatened by an assassin.
Catherine Zeta Jones joins the cast for the sequel, while Sir Anthony Hopkins was reported to be in talks to play a villain.
Screenwriters Jon and Erich Hoeber returned to pen RED 2, while Galaxy Quest helmer Dean Parisot came on board as director.
RED 2 is set to open on August 2, 2013. Watch the trailer for RED below: