Top Gun 3 is in the works at Paramount.

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Deadline reported Thursday that Paramount is developing a new sequel in the action film series.

The original Top Gun was released in 1986 and starred Tom Cruise, Val Kilmer and Anthony Edwards. Top Gun: Maverick, a sequel featuring Cruise, Kilmer, Miles Teller and Glen Powell, opened in 2022.

Top Gun: Maverick co-writer Ehren Kruger is attached to write Top Gun 3, with Cruise, Teller and Powell expected to return. The Hollywood Reporter said Maverick director Joe Kosinski will also return to direct.

Variety confirmed the news.

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Reports of the sequel follow Cruise's new, non-exclusive deal to develop franchises and original films for Warner Bros. The actor is still able to work with Paramount, Universal and other studios.

Top Gun: Maverick was a success for Paramount, grossing nearly $1.5 billion at the box office and earning an Oscar nomination for Best Picture.

Cruise also stars in Paramount's Mission: Impossible franchise and is attached to an eighth film slated for release in 2025.