And the excitement does not end there.
Multiple reports have revealed that the first Spider-Man: Far From Home trailer is set to debut at Brazil Comic Con on Saturday, December 8, with online release following shortly after. The actor posted the video with the caption: "I just realized I'm not playing Spider-Man" and caused a frenzy.
The actor, who also debuted on Instagram a few hours ago, decided to make his first post on the social media platform about the Spider-Man role.
In October, it seemed clear these talks went well, after people shared footage on social media of what appeared to be the actor shooting scenes in Czech Republic in Mysterio's trademark attire.
Spider-Man: Far From Home is the sequel to Spider-Man: Homecoming, the first solo outing for Tom Holland's version of the character.
Gyllenhaal was most recently seen onscreen in Jacques Audiard film The Sisters Brothers and in Paul Dano's Wildlife.
This may be a playful nod to that brief period in 2003 when Tobey Maguire was trying to get a bigger payday for Sam Raimi's Spider-Man 2, and Sony called his bluff to the point where the studio actually met with Gyllenhaal as a possible replacement. Created by the late Stan Lee and Steve Ditko, the villain is a special-effects wizard, if you will. Quentin Beck is a Hollywood special-effects artist and stunt man who decides that he wants to put his heart into being a super-villain instead.