The sensei are teaming up. On Tuesday, Sony released a trailer for Karate Kid: Legends, which will return the Karate Kid franchise to the big screen and unite two strands of the franchise for the first time. In the film, Ralph Macchio’s karate master Daniel Larusso, from the ‘80s Karate Kid movies and “Cobra Kai,” and Jackie Chan’s kung fu teacher, Mr. Han, from the 2010 reboot with Jaden Smith, work together to train a teenage karate student named Li Fong (Ben Wang).

The trailer finds Mr. Han seeking Daniel’s help in training Li, a New Yorker with a lot of promise but some personal troubles. When they meet, Daniel assumes Han is looking for his late sensei, Mr. Miyagi (Pat Morita), who taught him everything he knows. “I did not come looking for Sensei Miyagi,” Han says. “I came looking for you.”

The cast also includes Joshua Jackson,...