'Bad Boys for Life' has been handed a release date of January 17, 2020.
The long-awaited third instalment of the action-comedy franchise will see Will Smith and Martin Lawrence reunite, having previously starred in 'Bad Boys' in 1995 and 2003's 'Bad Boys II', both of which proved to be significant successes.
Adil El Arbi and Bilall Fallah are expected to direct the new film, according to Deadline, which says that Jerry Bruckheimer will return as a producer.
'Bad Boys for Life' will open in cinemas during the Martin Luther King Jr. holiday weekend in the US.
Since the first 'Bad Boys' movie, Will has become one of Hollywood's best paid and most recognisable actors.
As a result, it has previously been suggested that the 49-year-old star was holding out for a huge financial deal to return to the franchise.
However, Will is now committed to the project, and he's previously spoken enthusiastically about returning to the 'Bad Boys' film series.
The Hollywood star - who plays the part of Detective Sergeant Mike Lowrey in the money-spinning movies - said: ''I saw Martin [Lawrence] a few weeks ago. I haven't seen him for about two years. We just looked at each other. We hugged.
''In that moment we knew we were making another 'Bad Boys'. We're definitely doing another one.''