Sylvester Stallone, Kim Basinger, Alan Arkin and Kevin Hart co-star in the pic, which Peter Segal will direct from a script by original scribe Tim Kelleher and Doug Ellin.
Boxing movie veteran De Niro and Stallone play retired fighters who step into the ring one last time to settle an old score.
Bernthal will play De Niro’s son who is conflicted about training the estranged father he has resented for years.
Billy Gerber is producing with Michael Ewing and Mark Steven Johnson. Production will start early next year in Louisiana, where Bernthal recently wrapped Ric Roman Waugh’s “Snitch,” an action drama starring Dwayne Johnson that Summit will release Feb. 22.
A veteran of AMC’s “The Walking Dead,” Bernthal will soon be seen as the lead in Frank Darabont’s TNT pilot “L.A. Noir.” Thesp plays a drug dealing money launderer opposite Leonardo DiCaprio in “The Wolf of Wall Street,” which hits theaters in late 2013.
Bernthal is repped by WME, the Burstein Company and attorney Kimberly Stenton.