Australian actor Luke Bracey is set to take on Keanu Reeves' iconic agent role in the Point Break remake.

The G.I. Joe: Retaliation star has been cast to play Johnny Utah, an undercover Federal Bureau of Investigation agent who tries to infiltrate a criminal gang in the world of surfing.

Reeves portrayed Utah in the 1991 Kathryn Bigelow movie, but he has ruled out a return for the remake.

Gerard Butler will take on the part of gang leader Bodhi, a role made famous by late actor Patrick Swayze.

Production is slated to begin in the summer (14) with Invincible's Ericson Core directing.