Justin Lin will direct and Chris Morgan will write the screenplay, the Hollywood Reporter said Wednesday.
Lin and Morgan previously worked together on "Fast and the Furious: Tokyo Drift," the third film in the series.
Little is known about the film's plot but shooting is slated to begin this spring in locations such as Los Angeles, Mexico and the Dominican Republic.
The franchise began in 2001 with Diesel and Walker at the wheels. Walker returned for the sequel, "2 Fast 2 Furious," but didn't appear in the third installment, which featured Diesel in a cameo.