Fans have been clamouring for Spider-Man to join Marvel's roster on the big screen for more than a decade.
Spider-Man comic book
The character is part of the Marvel's comic book empire, but Sony has owned the film rights since 1999, when it paid a reported $7m (£4.6m).
Evil Dead director Sam Raimi first brought the character to the big screen, with Tobey Maguire in the lead role.
More recently, the series was rebooted, with British actor Andrew Garfield inside the iconic red and blue suit and Marc Webb directing.
But the new deal effectively spells the end for Garfield's portrayal of Peter Parker and his superhero alter-ego, reported the LA Times.
Sony had been casting around for ways to re-invigorate the franchise after his second outing failed to break the $1 billion (£657 million) mark at the box office last May.
A third Amazing Spider-Man film was postponed to 2018, while a spin-off film, The Sinister Six, focusing on Spider-Man's most notorious enemies, was slated for 2016.