What we can expect from 'Deadpool 3,' starring Ryan Reynolds and Hugh Jackman

• A third "Deadpool" film is in the works, starring Ryan Reynolds and Hugh Jackman.
• "The Crown" star Emma Corrin and "Succession" favorite Matthew Macfadyen are part of the cast.
• "Deadpool 3" is currently set for release on May 3, 2024.

A third "Deadpool" film is in the works, starring Ryan Reynolds as the titular Marvel mercenary and anti-hero.

This time around, Reynolds will be joined by his longtime friend Hugh Jackman, who's reprising his role as Logan/Wolverine. 

Here's everything we know about "Deadpool 3," directed by Shawn Levy.

According to Jackman, 'Deadpool 3' will take place before 'Logan'

When Jackman's involvement in "Deadpool 3" was announced, it caused some confusion among fans since Wolverine died in James Mangold's 2017 film "Logan." However, Jackman will be able to reprise the part because "Deadpool 3" will be set before his death. 

Reynolds told Collider in November 2022 that he "always" wanted the Australian actor to return to the role. When Disney acquired Fox, Deadpool became part of the Marvel Cinematic Universe, and it was a no-brainer. 

"Hugh just happened to call at that perfect moment and express that he'd be interested in coming back and doing this one more time," Reynolds said, adding that "working with Hugh is a dream come true."

"But," he continued, "working with Logan and having Logan and Wade together in a movie is beyond any dream I would ever be audacious enough to have."

Reynolds shared a similar sentiment during an interview with ET Canada in April, explaining that he and Jackman "wanted to do this for a decade."

"I think he was excited," Reynolds said of his costar. "And what we pitched him was enough of a divergence from the character that he knows and the character that he's left behnd, that it gives him something completely new to play and something that he's really excited to do."

'The Crown' star Emma Corrin will reportedly play a villain

Deadline reported Corrin's casting in February. It's not known which specific character they'll play beyond being an antagonist. 

Reynolds reacted to the news on Twitter, writing: "New addition to the family! The Deadpool family, for clarity. Which is just like a real family except with less swearing… Welcome, Emma Corrin!"

'Succession' star Matthew Macfayden will reportedly portray a character who's a 'third wheel' to Deadpool and Wolverine

Macfayden is known for his Emmy-winning performance as Tom Wambsgans on HBO's critically-acclaimed drama "Succession," which ended in May after four seasons. 

His casting in "Deadpool 3" was reported by Deadline and The Hollywood Reporter in March, with the former publication noting that the movie was looking for a character "described as being a third wheel" to the two main characters. 

Reynolds expressed his enthusiasm over Macfayden being part of the sequel during an interview with Etalk in April.

"I love him in 'Succession,'" Reynolds said. "I can embrace a guy who straddles the line of villain and hero. And martyr. And many other things."

"I think Matthew Macfayden is probably one of the most interesting actors working today," he continued. "And the fact that he's going to be on our 'Deadpool' set each and every day is nerve-wracking for me. I'll be starstruck."

Morena Baccarin and more stars from the previous 'Deadpool' films will return

Vanessa was killed off in "Deadpool 2," but in one of the end-credits scenes, Wade traveled back in time to prevent her from being murdered. 

Baccarin initially cast doubt on whether or not she'd be part of the movie during an appearance on the podcast "Inside of You With Michael Rosenbaum," released in April.  

"I'd like to be in it," Baccarin added. "They have called me about being in it. Right now, we have not agreed on terms, and everybody's trying their best and doing their best. But it may or may not work out. I don't know."

Not long after, Deadline reported that Baccarin would return as Vanessa. 

In addition to Baccarin, the following actors will also be part of the movie: Karan Soni (Dopinder), Leslie Uggams (Blind Al), Stefan Kapicic (Colossus), Rob Delaney (Peter), Brianna Hildebrand (Negasonic Teenage Warhead), and Shioli Kutsuna (Yukio).

'Deadpool 3' is currently set for release on May 3, 2024

Production began in June.

In early July, British tabloid The Mirror published paparazzi photos of Reynolds on set dressed as Deadpool. The anti-hero costume looked noticeably brighter in color than what Reynolds has worn in the previous "Deadpool" films, and there are other slight changes in the outfit's appearance.