It follows Gentry as he is hunted across the world by Lloyd Hansen (Evans), a former member of Gentry's CIA team.
Dhanush joins the cast along with "Narcos" star
The details of their characters have been kept under wraps.
"The Gray Man" will also feature actor Ana de Armas in a pivotal role.
Netflix aims is to create a new franchise with a James Bond level of scale and a budget upward of USD 200 million.
Anthony and Joe Russo will be producing the project through their AGBO banner.
Joe Russo wrote the script, with "Avengers: Endgame" screenwriters Christopher Markus and Stephen McFeely polishing the final draft.
AGBO's Mike Larocca, along with Joe Roth and Jeff Kirschenbaum for
The makers are planning to start the filming in January in Los Angeles while international locations are still being finalised.
Dhanush has previously featured in 2018's English-language movie "The Extraordinary Journey of the Fakir", directed by Ken Scott.
He is currently working on filmmaker Aanad L Rai's "Atrangi Re", opposite Akshay Kumar and Sara Ali Khan.
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