The star left the project this week "to deal with family matters".
The Harry Potter star appears in The Lost City alongside the pair, as well as Sandra Bullock.
The two actors first came face-to-face after their daughters were "buttin' heads" at pre-school.
The US actor will reprise his role as Michael Lane in the next instalment of the franchise, Magic Mike’s Last Dance.
Lenny Kravitz Jokes He's Ready To Star In Magic Mike 3, And We (And Channing Tatum) Are So Here For It
Open shirt? Check. Killer abs? Check. Power tool? Check.
The singer is also rumoured to be taking part in this year's I'm A Celebrity.
"The One and Only Sparkella" is dedicated to the actor's daughter, Everly, "who loves sparkly, rainbow-y things."
The pair reportedly called things off last month after a year together.
She wrote in her new book that she felt "blindsided" by the news that her ex was dating the chart-topping singer.
We officially enter silly season as a woman marries her dog on This Morning, Jessie J does not want to talk about Channing Tatum in interviews, Eamon Holmes calls Ruth Langsford a racehorse and how much money do Love Island contestants make when they leave the villa?