According to the AFP, Cage has agreed to star in the film, which was originally done in 1999.
"Cage is currently in Bangkok and will stay here for about three months to shoot this movie in Bangkok and a few other provinces in Thailand," Poj Charlermpong, a spokesman for Living Film Entertainment Thailand, told AFP.
Big Hit in Bangkok will be directed by brothers Danny and Oxide Pang, who also directed the original thriller. The story centres around a hitman who falls in love with a beautiful Thai woman and decides to give up his life of crime.
Cage began acting in his early 20s, and has completed more than 40 films. He earned an Oscar for his performance in Leaving Las Vegas. Cage can currently be seen in the Oliver Stone film World Trade Center.