The superhero epic has begun filming in Wilmington, North Carolina and will also shoot scenes in Raleigh/Durham and Miami as well as China.
Iron Man 3 follows on from the blockbuster hit The Avengers, which has broken box office records all over the globe.
Guy Pearce has been cast as the villain for director Shane Black's instalment, while Sir Ben Kingsley will appear in the movie as well.
Gwyneth Paltrow, Don Cheadle and Jon Favreau will all reprise their roles in the series.
Iron Man 3 is due for release in May 2013.
Watch a trailer for The Avengers below: