Columbia Pictures President Doug Belgrad revealed that he hopes to capitalise on Channing Tatum's recent success by getting the picture into production as soon as possible.
"Yes, we plan to start shooting in the fall," Belgrad told The Hollywood Reporter.
"There are very few actors - I'm going to quote Amy [Pascal, Co-Chairman of Sony Pictures Entertainment] - who can do romance, action and comedy. We're in business with two of them, Channing Tatum and Will Smith."
Belgrad went on to say that he plans to shoot a fourth Men in Black film as well.
"We're very pleased with the financial performance of Men in Black 3, and we believe it is an ongoing franchise," he said. "We're going to do [another one], but we don't have clarity yet on how it should be done."
21 Jump Street star Jonah Hill credited the success of the film with his real-life friendship with Tatum.
Watch the trailer for 21 Jump Street below: