Ben Affleck, 41, will star opposite British actor Henry Cavill, who will reprise his role as Superman from the most recent film, Man of Steel.
Director Zack Snyder revealed the big screen superhero mash-up at a comic convention in San Diego last month.
Production is expected to begin next year for release in the summer of 2015.
“We knew we needed an extraordinary actor to take on one of DC Comics’ most enduringly popular super heroes, and Ben Affleck certainly fits that bill and then some,” Warner Bros President Greg Silverman said in a statement.
Zack Snyder, who also directed Man of Steel, said in a statement that Ben Affleck will provide an “interesting counter-balance” to 31-year old Henry Cavill’s Clark Kent.
“[Ben Affleck] has the acting chops to create a layered portrayal of a man who is older and wiser than Clark Kent and bears the scars of a seasoned crime fighter, but retain the charm that the world sees in billionaire Bruce Wayne,” said Zack Snyder.
“I can’t wait to work with him.”
The Superman sequel – which has yet to be given a title – will reunite Man of Steel stars Amy Adams (Lois Lane), Laurence Fishburne (Perry White) and Diane Lane (Martha Kent).
Christian Bale most recently played Batman in director Christopher Nolan’s Dark Knight trilogy.
Michael Keaton and George Clooney have also donned the black mask and cape in previous Batman films.
Ben Affleck’s film Argo, which he starred in and directed, won an Academy Award for best picture earlier this year.
The superhero genre is not new to Ben Affleck, who previously starred as the blind hero in the 2003 Daredevil film based on the Marvel Comics.
Batman and Superman are part of DC Comics universe, which is part of the Warner Bros Entertainment division.
Revenues from the latest films featuring Superman and Batman have exceeded $1 billion in recent years.
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