The first movie in Pixar's franchise was released in 1995, with the fourth film dropping in 2019 and Disney has now announced that the fifth will be released in 2026.
All four movies so far have featured Tom Hanks as Woody and Tim Allen as Buzz Lightyear.
Disney CEO Bob Iger announced in February 2023 that there would be a fifth movie but did not give any details.
However, in November 2023, Allen revealed he and Hanks had both been approached about reprising their roles.
Speaking on 'The Tonight Show', he said: "Bob Iger, head of Disney, said it was on and actually said it was going to happen. They have reached out to Tom and I to reprise the roles. They're not saying anything about it...You wonder if four was too many. Is five going to be too much?
"According to the scuttlebutt, the writer that's doing it wrote one of the better ones and said, 'If I didn't get this right, I wouldn't do it.' It could be a very, very interesting way to reunite it."
In the fifth movie, Buzz and Woody will need to be reunited after the fourth film ended with them going their separate ways as the pull-string cowboy toy left the rest of the gang to stay with Bo Beep.
Allen has an idea for how to bring the gang back together though, and he thinks their first human owner Andy could be the key.
He told That Movie Dweeb: "I don't know if this is where the story is going, but what if the whole story was through Andy as an adult?
"[He] has children, and they just happen to be online, and the kid goes, 'Have you ever seen this toy?'
"And Andy sees that Buzz has got a hand missing and they're selling these vintage toys, and Andy goes and gathers all the toys up.
"He has to go out and find each one of them and put them back together, bring them back to his house, and start the whole thing over again with his son...
Spinoff 'Lightyear' - which told the origin story of Buzz Lightyear, the hero who inspired the toy - was released in 2022 and voice starred Chris Evans.