LOS ANGELES -- Kung fu movie legend Jackie Chan is being lined up for a role in a remake of the hit 1984 film "The Karate Kid," entertainment industry press reported Wednesday.

Daily Variety reported that Hong Kong star Chan, 54, was in final negotiations for the part of the elderly guru who teaches karate to a young boy, played by Jaden Smith, the son of Hollywood icon Will Smith.

The original "Karate Kid" starred Ralph Macchio as a youngster who learns to defend himself from bullies by learning martial arts from an eccentric mentor, played by the late American-Japanese actor Pat Morita.

Morita, who earned a best supporting actor Oscar nomination for his performance as Mr Miyagi, died in 2005 aged 73.

The film spawned two sequels starring Macchio and Morita, as well as a fourth installment in 1994 "The Next Karate Kid," starring future best actress Oscar-winner Hilary Swank.