Foxx, 54, announced Wednesday that he and Diaz, 49, will star in the movie Back in Action.
Foxx recruited NFL star Tom Brady, who briefly retired in February, to help bring Diaz out of retirement for the new project.
On Twitter, Foxx shared a recording of a conversation with Diaz where he surprised the actress by bringing Brady into the call.
"Cameron I hope you aren't mad I recorded this, but no turning back now. Had to call in the GOAT to bring back another GOAT. @CameronDiaz and I are BACK IN ACTION - our new movie with @NetflixFilm. Production starting later this year!!" Foxx captioned the post.
Foxx and Diaz previously starred together in the 1999 film Any Given Sunday and in the 2014 remake of Annie.
Diaz has a 2-year-old daughter, Raddix, with her husband, musician Benji Madden.