The third film in the collaborators' 'Three Flavours Cornetto' trilogy will be a "social science fiction" film, they told Empire.
The film centres around four friends who attempt a pub crawl to the legendary World's End while a cataclysmic event rages around them.
"This is as much about where you grew up as the people you grew up with," said Wright, promising a more mature film than the previous Shaun of the Dead and Hot Fuzz.
"It's also very silly," he added. "I would say it's darker, more personal and more silly."
Pegg and Wright directed fans to investigate the works of John Wyndham (Day of the Triffids) and John Christopher (The Tripods).
Wyndham is known for exploring social mores through sci-fi in classic novels including The Midwich Cuckoos and The Chrysalids.
Details of the forthcoming film have been kept tightly under wraps.
The World's End is scheduled to begin shooting in September.