Paddington 3 will not be directed by Paul King, the filmmaker behind the previous two entries in the series.
Ben Whishaw has provided the voice of Michael Bond's famous creation since 2014, a Peruvian bear with a love for marmalade who finds a home with a kind family in London.
King's 2014 film adaptation saw a positive response from critics while its sequel was showered with universal acclaim, meaning some fans might be disappointed to hear he won't be back for a third outing.
In an interview with Empire Magazine, he described making the films as “one of the great treats of my life,” but expressed a desire to move on to other projects.
He added: "At some point, you just have to stop. It might be time for somebody else to do a twist on it. I’m trying not to do a third bear movie, which is a huge, huge mistake."
King is currently working on an animated film for Warner Bros based on iconic British rock band The Beatles, as well as a new movie about Roald Dahl's chocolate pioneer Willy Wonka.
Going forward, his involvement in Paddington 3 will be only as an executive producer, meaning a position is vacant to steer the family franchise into the future - but whoever takes it will have some big shoes to fill.
Alongside Whishaw in the title role, the Paddington movies star other top tier talent including Hugh Bonneville, Sally Hawkins, Julie Walters, Jim Broadbent and Peter Capaldi.
Paddington and its sequel are available to stream on Amazon Prime Video. If you're looking for something else to watch, check out our TV Guide.