He is to begin performances Aug. 24. The Off-Broadway play will officially open Sept. 20, 2012 at the Harold and Miriam Steinberg Center for Theatre/Laura Pels Theatre. The limited engagement of 13 weeks will run through Nov. 25.
Three additional actors and the design team will be announced shortly, the show's producers said.
Gyllenhaal's film credits include "Donnie Darko," "The Good Girl," "Brokeback Mountain," "Brothers," "Jarhead," "Rendition" and "Zodiac." He made his stage debut starring in Kenneth Lonergan's revival of "This Is Our Youth" in London's West End several years ago.
"Nick Payne is an exciting young voice in the British theater, and I'm thrilled to have this opportunity to introduce him to American audiences," Roundabout Theatre Co. Artistic Director Todd Haimes said in a statement. "When I read 'If There Is I Haven't Found It Yet,' I knew that not only did Nick have great range as a playwright, but that this was a perfect fit for the Laura Pels Theatre. Jake Gyllenhaal loves this play and the role of Terry, and I couldn't be happier that he has chosen to make his American stage debut with us."