Caviezel's agency ICM Partners confirmed with The Hollywood Reporter that he is in negotiations with Gibson to return to the role.
Gibson, who directed The Passion of the Christ, is expected to produce, direct or both.
"There are things that I cannot say that will shock the audience," Caviezel said when asked about the project by USA Today. "It's great. Stay tuned."
"I won't tell you how he's going to go about it," he continued about Gibson's approach to the sequel. "But I'll tell you this much, the film he's going to do is going to be the biggest film in history. It's that good."
Gibson confirmed that he was developing a sequel to The Passion of the Christ tentatively titled The Resurrection in September 2016 while speaking with Pastor Greg Laurie at the 2016 SoCal Harvest, a Christian event.
"Of course, that's a very big subject and it needs to be looked at because we don't want to just do a simple rendering of it - you know, read what happened," he said about the film at the time.
The Passion of the Christ, which also starred Maia Morgenstern and Monica Bellucci, was a box-office smash taking in more then $600 million globally.
Caviezel will next be seen in Paul, Apostle of Christ which arrives in theaters on March 28. The actor stars as Luke alongside James Faulkner's Paul in the film.