"It's harder and harder to keep secrets these days...excited we get to share this news today!!" Cena tweeted, along with the link to a news story about the as-yet-untitled project.
The Hollywood Reporter said Bateman will reunite with Mark Perez, who wrote his 2018 blockbuster Game Night, for the new Netflix movie.
Bateman has worked as an actor for more than 30 years. He also helmed the films The Family Fang and Bad Words.
Cena's screen credits include Daddys' Home and its sequel, Ferdinand, Blockers and Rise of the Teenage Mutant Ninja Turtles.