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The group, who made an appearance at the Download festival last weekend, expect the new album to be completed by the end of the year.
"We're getting together our demos right now and we're going to go in and record them," Fred Durst told BBC Newsbeat.
"I'm having a great feeling about going in and doing our record, more than I have about any of our albums before.
"It's not going to be a watered down version of Limp Bizkit, it's going to be a more explosive, more addictive, more driven version of Limp Bizkit."
Durst added that the band, who reformed with their original lineup earlier this year, are expecting to headline summer festivals in 2010.
"This isn't a reunion, this is a comeback. We're here to take it back and to sit on top of the mountain again. We're going to come back to Download and headline it."
Limp Bizkit's last record, seven-track EP The Unquestionable Truth (Part 1), was released in May 2005.
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