The Taken actor is said to have agreed a deal with Warner Bros to start shooting the project in the autumn, reports Deadline.
Jaume Collet-Serra is also negotiating a deal to direct the action film.
Neeson will play a mob hitman who is forced to take on his ex-boss over the course of one night.
The character also has to protect his family, and finds himself on the run from the mob and cops with his son.
Neeson and Collet-Serra are currently filming Non-Stop for Silver Pictures, while they also worked together on the thriller Unknown.
In Non-Stop, Neeson plays an air marshal who is forced to take command when a passenger begins making anonymous threats.
The first official photo from the project was unveiled last week.
Watch Liam Neeson speaking to Digital Spy about Non-Stop, Taken 2 and his action movie career below: