Members Jay McGuiness and Siva Kaneswaran revealed they have so far recorded "seven or eight" songs for the LP, which they are aiming to release in April 2013.
Watch the pair discuss their new album at the Capital FM Jingle Bell Ball below:
McGuiness also admitted that they are still "debating" over their next single, which will be put out before the LP's release.
The Wanted's previous single 'I Found You' recently became their seventh top five single after peaking at number three last month.
It was recently reported that Lindsay Lohan is joining the group on their tour bus, after rumours that she is dating singer Max George.
Watch the 'I Found You' music video below: