Teller will be featured in the film as the son of Goose and the new protege of Cruise's Maverick, Variety reported.
Goose, portrayed by Anthony Edwards, was Maverick's former co-pilot in the original Top Gun from 1986 who suffered an untimely death.
"I feel the need..." Teller said on Twitter Tuesday, a reference to a famous line from the original film.
Top Gun: Maverick, set for release on July 12, 2019, will follow Maverick in the present day as he deals with the rise of drone technology that is making his style of jet fighter flying obsolete. Val Kilmer will also star, reprising his role as pilot Iceman who was Maverick's rival.
Joseph Kosinski, who worked with Cruise on Oblivion, is directing the film with Jerry Bruckheimer returning to produce. German composer Harold Faltermeyer, who created the score for the original film, will also return.