Warner Bros Pictures Group chairman Toby Emmerich confirmed on Tuesday that a new Matrix film was in the works.
Reeves, 54, will be reprising his role as Neo, and Carrie-Anne Moss, 51, will return as Trinity in the science-fiction action film that will be co-written by Lana Wachowski, who co-created the original film with her sister Lilly Wachowski.
In a statement, Lana Wachowski said the ideas explored in the Matrix series were more relevant than ever today, and said she was happy to have the characters back in her life.
Mr Emmerich hailed Lana Wachowski as a “true visionary” as he confirmed the fourth instalment.
The first film hit the big screen 20 years ago and its success spawned two sequels – The Matrix Reloaded and The Matrix Revolutions – that cumulatively made more than $1.6bn (£1.3bn) worldwide.
The Matrix films were seen as revolutionary when they were released. They depicted a dystopian future with humanity trapped inside a simulated reality and its “bullet time” special effects.
A release date for the fourth Matrix film has not yet been set.