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The rapper is currently finishing a sentence at Rikers Island for attempted criminal possession of a weapon, having been imprisoned since March earlier this year.
"Me knowing Wayne, he's going into the studio," Cash Money Records co-founder Birdman told Entertainment Weekly. "He hasn't been able to rap for months.
"I think the same day he comes home, he's going to go straight to the studio," he added.
Following his release, Lil Wayne is expected to resume work on his long-awaited ninth studio album Tha Carter IV, as well as a second collaborative project with Birdman, the follow-up to their 2006 album Like Father, Like Son.
Tha Carter IV is expected to be released in early 2011.
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