Johnny Depp will reprise his role as Jack Sparrow in the fifth installment of the Disney franchise with Jerry Bruckheimer producing.
Pre-production on "Pirates" is already under way in Australia, where the big-budget sequel will be shot. The film will bow in July 2017.
Joachim Ronning and Espen Sandberg, who got their sea legs with "Kon Tiki," will direct.
Sources tell Variety that Bardem is expected to play some type of ghost pirate who clashes with Depp's Captain Jack Sparrow.
Production will begin in January with the studio still looking for a young male to join Depp in what would be the equivalent of the Orlando Bloom role from the first three pics.
Bardem, who is repped by WME, can be seen next in "The Gunman" with Sean Penn.
The Wrap first reported the Bardem news.
Pictured: Bardem in The Counsellor.