The veteran comic book creator and creator of Spawn has been working on casting various roles in the film for some time, with the vague promise that production would start soon on the movie, which he says will be an R-rated horror/action movie.
There is no word yet on just where the movie will be shot, but OU says that producers are discussing filming in New York.
McFarlane took the project to Blumhouse, home of projects like Get Out and The Belko Experiment, in part because he wanted to retain creative control, and working with a smaller studio and a smaller budget would allow him to do so.
In a late January interview with ComicBook.com's Jim Viscardi, McFarlane broke the news his reboot has begun the casting process.
"We just officially the other day had our first casting meeting, and so what that means for anyone listening today is with the final script we're going to start sending that into Hollywood to actually go pick up the cast members," McFarlane said.
The process involves sorting through the script's characters and throwing names around for actors who might fit, McFarlane explained.
"More specifically, are there actors or characters you've seen in other movies that you think fall into that pool, because all of that gives the casting director a picture so that they can go 'oh, okay, I know who to go after now that we're doing it,'" he said. "So we've officially begun the casting process."
Despite its title, Spawn won't focus on its eponymous character, who will be more like the shark in Jaws, showing up "at the opportune time to make the movie worthwhile."
A bigger role will instead be private investigator Twitch Williams, who McFarlane refers to as his "Sheriff Brody."
Last summer, McFarlane told ComicBook.com "a couple" of Academy Award-winning actors approached him about starring in the movie.
McFarlane has yet to name who he's met with, but previously admitted to Vulture he had Leonardo DiCaprio in mind when writing the Twitch role, saying he needs someone to "be able to go to some extremes" and express a wide variety of differing emotions.
Spawn has yet to announce a release date.