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Reeves and filmmaker Chad Stahelski are returning for the new movie in the franchise after collaborating on three earlier parts.
If finalised, Skarsgard will join Reeves, Donnie Yen and Japanese-British pop star Rina Sawayama in the fourth chapter, according to The Hollywood Reporter.
Stahelski, who previously helmed "John Wick" (2014), "John Wick: Chapter 2" (2017) and "John Wick: Chapter 3 – Parabellum" (2019), will direct the new movie from a script by Shay Hatten and Michael Finch.
"John Wick: Chapter 4" will be produced by Basil Iwanyk, Erica Lee, and Stahelski. Reeves will executive produce along with Louise Rosner.
The movie will start production later this year with shooting on location in France, Germany and Japan.
Skarsgard is best known for playing Pennywise the Dancing Clown in supernatural horror film "It" and its 2019 follow-up.
He will next feature in "Naked Singularity", co-starring John Boyega and Olivia Cooke, and period adventure thriller "Emperor".
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