Smith took to Instagram to share an image from his laptop of the first page of a script titled "Jay & Silent Bob Reboot."
"This is not a drill! This is an actual image from my laptop! Yes, Kids - @jayandsilentbob are coming back!," he captioned the picture.
The characters, created by Smith and portrayed by him and Jason Mewes, have appeared to varying degrees in many of the director's films, eventually scoring their own in 2001.
In 2013, the animated "Jay & Silent Bobs Super Groovy Cartoon Movie" was released.
"It's a tongue-in-cheek, silly-ass satire that pokes fun at the movie business's recent re-do obsession, featuring an all-star cast of cameos and familiar faces!" he added.
The 46-year-old filmmaker concluded by saying that he is hoping to begin production soon.