Feig said that the new ghost-hunting team would be all female, and star "hilarious women" in the key roles, reported E! online.
Feig will be working with 'The Heat' scriptwriter Katie Dippold on the third installment in the much-loved franchise.
He took to Twitter to make the announcement, saying, "It's official. I'm making a new 'Ghostbusters' & writing it with @katiedippold & yes, it will star hilarious women. That's who I'm gonna call."
The original 'Ghostbusters' films, released in 1984 and 1989, are some of the best-loved comedies of the last thirty years, with the signature Ray Parker Jr theme tune instantly familiar to all subsequent generations.
The death of Harold Ramis earlier this year was a major hitch, with original director Ivan Reitman declining to be involved in any further project at that point.
However, it's rumoured that he may yet take a more minor producer's role.
'Ghostbusters 3' is reportedly due to start shooting at the start of 2015. A release date has not been confirmed.
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