The film's head honcho took to Twitter to announce the casting news and to vent his frustrations about the "Die Hard" actor, reported E! News.
"WILLIS OUT... HARRISON FORD IN!!!! GREAT NEWS !!!!! Been waiting years for this!!!!," wrote Stallone on the microblogging website.
Willis appeared in the first two "Expendables" films alongside Arnold Schwarzenegger, Jason Statham and many other actors, but it seems that the two action stars have parted ways following a feud.
"GREEDY AND LAZY... A SURE FORMULA FOR CAREER FAILURE," Stallone wrote.
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His representative later confirmed that the tweet was ndeed made in reference to Willis.
Production for "The Expendables 3" is slated to begin later this month with Jackie Chan, Wesley Snipes, Nicolas Cage and Milla Jovovich joining the star-studded cast.
The film is expected to hit the big screens on November 15, 2014.