The actor-director, star of the "Rambo" and "Rocky" film series, said during the recent American Film Market that the Oscar winner would be perfect for his action movie about "ugly tough guys," The Hollywood Reporter said Saturday.
"Whereas the 'Oceans 11' films were an ensemble for good-looking guys, this is an ensemble for ugly tough guys," Stallone said, referring to the caper dramas starring actors George Clooney and Brad Pitt.
Whitaker is known for his roles in "The Crying Game," "Bird" and "The Last King of Scotland," the last of which earned him an Academy Award for best actor.
Stallone made his comments to the movie's producers at a lunch during this week's annual cinema gathering in Santa Monica, Calif.
The Reporter said Stallone has already tabbed action stars Jason Statham and Jet Li to star alongside him. The plot involves mercenaries pitted against a Latin American dictator.
Notable deaths of 2014 [PHOTOS]
Polly Bergen, Emmy Award-winning actress, dies