Variety reports that the actor will play the mayor of New York City in the Columbia Pictures movie, which stars Denzel Washington and John Travolta.
The film, directed by Tony Scott, centres on police and politicians' attempts to avert a crisis when an armed gang hijacks a packed subway car for a ransom.
The original 1974 movie starred Walter Matthau and Robert Shaw, and was based on the novel by Morton Freedgood.
Gandolfini recently shot Where The Wild Things Are for director Spike Jonze. He will also play writer Ernest Hemingway in a drama produced via his Attaboy Films shingle.