MUMBAI: New-age Hollywood filmmaker Taiki Waititi could reunite with Ryan Reynolds to direct "Deadpool 3", according to industry sources.

"Deadpool 3" is yet to be officially announced but Waititi, who made his mark directing "Thor: Ragnarok" and "Jojo Rabbit", is reportedly a prime contender for the third film of the franchise, which brings back Reynolds as the maverick superhero, reports aceshowbiz.com.

In May 2018, "Deadpool 2" director David Leitch expressed interest to helm another "Deadpool" movie, although he had been signed for the second installment of the franchise.

"I would be grateful to work on something (starring Reynolds' Deadpool) again. It just depends on time and place, so we'll see what happens," Leitch had said at the time.

However, according to the portal We Got This Covered, Waititi could fill the director's chair for the project because, as it was first reported in 2016, Fox are looking for a separate director from "Deadpool 2" to helm the third movie.

In October 2019, Reese and Wernick, who penned the first two films, said that they had a script in development for "Deadpool 3" but were waiting for approval from Marvel Studios to begin production.

Reynolds had mentioned on "Live With Kelly and Ryan" that "Deadpool 3" is in the works last December.

Waititi won an Academy Award for Best Adapted Screenplay for "Jojo Rabbit", thereby becoming the first person of Maori descent to win an Oscar.