Jeff Bridges reportedly already has been chosen to fill John Wayne's boots as the film's hard-drinking, tough-talking hero, U.S. Marshal Rooster Cogburn, who is hired by a spunky 14-year-old girl to find her father's killer.
Damon is in talks to play the lawman who helps them out, while Brolin is up for the role of the killer, Variety said. Glen Campbell and Jeff Corey played the respective roles in the 1969 original.
The movie is to begin production next March for a 2010 release.
Brolin previously collaborated with filmmakers Joel and Ethan Coen on the Oscar-winning film, "No Country for Old Men." Bridges worked with them on "The Big Lebowski."