Schreiber has starred in the films "The Manchurian Candidate" and "The Omen" and will soon be seen in "Love in the Time of Cholera."
The role of Stryker was played by Brian Cox in the blockbuster "X2."
Twentieth Century Fox is planning to release the latest installment in the "X-Men" franchise on May 1, 2009, Variety.com reported Thursday.
Hugh Jackman, who starred in the previous "X-Men" movies, will reprise his role of Wolverine in the new film which is slated to begin shooting next year in Australia, New Orleans and New Zealand with "Rendition" director Gavin Hood at the helm.
Together, the trio of "X-Men" pictures have grossed more than $1 billion worldwide.
Another "X-Men" spinoff, based on the character Magneto, is also in the works, the trade paper said.