Movies
A J Sokalner / Rex Features
The actor will join forces with Rambo producers Danny Dimbort, Avi Lerner and Trevor Short of Nu Image/Millennium Films following the success of his recent Rambo and Rocky sequels.
He told the Hollywood Reporter: "The past year and a half of working with Avi, his partners Danny and Trevor and his film family has been nothing but a high point for me and my career and an extremely rewarding experience. Avi is a real gentleman and a man of his word."
Stallone's 2006 film Rocky Balboa grossed $70 million, while the fourth instalment in the Rambo franchise took $18.2 million in its opening weekend in the US last month.
The 61-year-old is said to be looking at scripts for further movies in both series, despite previously insisting that the recent sequels would be the last.
He is also separately working on a remake of 1974 vigilante drama Death Wish.
Studio boss Harvey Weinstein recently said he wants to make a fifth Rambo movie before Stallone gets too old.
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