Over the Hedge writer Karey Kirkpatrick and Chris Poche are currently producing a script for a third instalment of the animated family franchise, reports Variety.
The Smurfs producer Jordan Kerner is also reportedly in line to develop the new project.
The first Smurfs movie grossed over $550 million (£341 million) worldwide, with the studio confirming a sequel just 12 days after its release.
The Smurfs 2 will see the return of director Raja Gosnell, producer Jordan Kerner and executive producer Ezra Swerdlow.
Neil Patrick Harris, Jayma Mays and Hank Azaria will also return, while Brendan Gleeson, JB Smoove and Christina Ricci will join the voice cast.
The 3D family comedy will be released in cinemas on August 2, 2013.