"Absolutely not. It's not my place," Reeves told the BBC. "If they can find a way to do it that works out good, then God bless them."
Directed by Kathryn Bigelow, the original movie cast Reeves as an FBI agent who infiltrates a community of surfers while pursuing a gang of bank robbers.
Reeves said the remake, which was written by Kurt Wimmer and will be directed by Ericson Core, "sounds very exciting -- but is it a good thing? I don't know."
The actor can now be seen in the samurai picture "47 Ronin."