Matthew Macfadyen joins Ryan Reynolds and Hugh Jackman in the cast of “Deadpool 3”.

It’s been four years since “Deadpool 2” hit theaters and fans are eagerly awaiting the third installment. The fate of the movie franchise and its title character seemed to be in limbo following Disney’s acquisition of 21st Century Fox in March 2019. But the following year, franchise chief Ryan Reynolds confirmed that “Deadpool 3” was finally on its way. And then the long-awaited addition to the franchise got even more exciting: Hugh Jackman returns to his role of Wolverine and officially enters the MCU.

Reynolds, a producer on all three episodes, first revealed the big news in a video shared on social media on Sept. 27, 2022, captioned, “I’m having a hard time keeping my mouth shut about this.” In the clip, the actor sits on a couch as he tells fans he “really had to get my soul into this one.” “[Deadpool’s] first appearance in the MCU must of course feel special. We have to stay true to the character, find new depth, motivation and meaning,” he says. “Each ‘Deadpool’ has to stand out and stand out. It’s been an incredible challenge that forced me to reach deep within. And I . . . I do not have anything. Yes, just completely empty here. And terrifying. But we did have an idea.”

Then Reynolds’ old frenemy Jackman walks by in the background, and the former asks if the actor wants to play Wolverine in “Deadpool 3.” Jackman, who last played the character in 2017’s “Logan,” replies, “Yeah, sure, Ryan.”

Emma Corrin, who starred as Princess Diana in season four of “The Crown,” is set to star as a villain, according to Deadline, though no other details about their character have yet been announced. The outlet also reported that “Succession” star Matthew Macfadyen, who plays favorite character Tom Wambsgans, has also joined the cast of “Deadpool 3,” though his character is also unknown.

Deadpool 3 is directed by Shawn Levy from a script by writers Rhett Reese and Paul Wernick. The duo spoke to Discussing Film in June 2022 about making the sequel for Marvel Studios. “It’s almost like putting on a comfy old sweater. Marvel has really given us the support to keep the tone and vision we have for it,” said Reese. “They’ve been bad hands off and supportive, but they also let us do what we do. So really, it’s just been fun.”

He added: “We’re mad scientists in the lab again. Deadpool is our favorite and will always be the character I think we’re most associated with, and we’re really thankful to get to write him again. So it’s great . It’s like going back to school after a summer break. It’s kind of fun.”

Only time will tell where Deadpool, Wolverine and friends fit into the Marvel Cinematic Universe, but we’re excited to see what the creative team comes up with. Since Marvel has the rights to many of its most popular heroes, including the other X-Men, we can finally see Deadpool teaming up with his comic comrades. Maybe one of them will explain what exactly happened after the wild “Deadpool 2” post-credits scene essentially wiped out the movie?

Read on for everything we know about “Deadpool 3” so far, including the film’s release date.