Fox starred in Bay's first two Transformers movies before her fight with the director saw her being written out of 2011's 'Transformers: Dark of the Moon'.
The actress will play April O'Neil, the human friend of the Ninja Turtles, the Hollywood Reporter said.
Bay let the cat out of the bag on his site with the simple phrase: TMNT: "We are bringing Megan Fox back into the family!"
Bay is producing the filnm via his Platinum Dunes partners Brad Fuller and Andrew Form.
The movie is in casting stages.
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