Reynolds uploaded the clip onto his YouTube page on Wednesday. The video features the pair presenting ads they made for each other that advertise Reynolds' Aviation American Gin and Jackman's Laughing Man Coffee.
Reynolds' goes first with his commercial for Laughing Man, praising Jackman as a hero. Jackman's ad, however, features the actor insulting Reynolds before he pours out a bottle of Aviation American Gin onto a table, declaring that he has never tasted the alcoholic drink.
"Sorry man I didn't think the truce was actually real," Jackman says to a shocked Reynolds.
Reynolds and Jackman have enjoyed poking fun at each other for years on social media. Both stars appeared together in 2009's X-Men Origins: Wolverine. Reynolds has also frequently made fun of Jackman in his Deadpool films.
Jackman last pranked Reynolds on Instagram in December alongside Jack Gyllenhaal. The joke involved tricking Reynolds into wearing a Christmas sweater to a party.