Ridley Scott directed the 1982 movie, which was adapted from the Philip K. Dick novel Do Androids Dream of Electric Sheep.
Alcon Entertainment announced Ford's role Thursday and said Scott will serve as an executive producer on the sequel.
Production on the film will begin in the summer of 2016.
Hampton Francher, who co-wrote the original, and Michael Green have written a script based on an idea from Francher and Scott.
The story will take place several decades after the events at the conclusion of the 1982 film.
According to Hollywood trade Variety, Quebec's Denis Villeneuve is in negotiations to direct the sequel.
Villeneuve, 47, has won accolades for his work on Enemy, Prisoners and Polytechnique. He has another film out later this year, Sicario, which stars Emily Blunt, Josh Brolin and Benecio Del Toro,