'Paddington 3' will begin filming this summer.
The long-awaited movie is titled 'Paddington in Peru' and is on course to begin production on July 24.
Plot details are being kept under the bear's famous red hat but the movie will see Paddington getting into sticky situations in his home country of "deepest, darkest Peru" - as the title suggests.
The film will be directed by Dougal Wilson in his feature directorial debut. The movie will once again be produced by Studiocanal with Heyday Films following their work on the first two installments of the 'Paddington' franchise.
The new flick will be shot on location in London and Peru and it is thought that Ben Whishaw will return to voice Paddington. It is said that the movie will be made up of a combination of new and returning cast members.
Paul King, Simon Farnaby and Mark Burton have all crafted the story for the latest film.
Studiocanal's Anna Marsh and Ron Halpern said: "We have long been huge admirers of Dougal's work, his stunning visual creativity, his storytelling, heart, emotion and humour.
"We are so thrilled that Dougal will be directing the third 'Paddington' film. We look forward to bringing 'Paddington' back to Peru for his next big screen adventure."
King – the director of 'Paddington' and 'Paddington 2' – added: "After ten years of working on the 'Paddington' movies, I feel absurdly protective of the little bear, and I'm delighted that Dougal will be there to hold his paw as he embarks on his third big-screen adventure.
"Dougal's work is never less than astounding: funny, beautiful, heartfelt, imaginative, and totally original. Aunt Lucy once asked us to 'Please Look After This Bear.' I know Dougal will do so admirably."
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