American Pie 4 will likely focus on the characters of Jim and Michelle following on from their wedding, according to Moviehole.
The original American Pie was released in 1999 and grossed around $235 million (£162.4 million) worldwide. It was followed by American Pie 2 and American Wedding, which each grossed over $200 million (£138.1 million) at the box office.
A trio of straight-to-DVD spinoffs - American Pie Presents: Band Camp, American Pie Presents: The Naked Mile and American Pie Presents: Beta House - have also been released.
Producers Universal Pictures were reportedly impressed by the success of the spinoff movies and believe that a fourth cinematic feature could be a profitable venture.
The original films starred Jason Biggs, Seann William Scott and Alyson Hannigan, but no cast members have yet been announced for the latest project.