The New Zealand native helmed several episodes of the TV series "Flight of the Conchords" in addition to writing and directed the vampire spoof "What We Do in the Shadows" and the indie comedy "Eagle vs Shark", reported Variety.
Waititi, 40, also penned the script for Disney's upcoming animated movie "Moana".
The filmmaker also acted as the character Tom Kalmaku 2011's "Green Lantern" opposite Ryan Reynolds.
Kenneth Branagh directed 2011's original "Thor" and Alan Taylor helmed "Thor: The Dark World" in 2013. The first film grossed USD 449 million worldwide and the sequel took in USD 645 million.
The script for "Thor: Ragnarok" has been written by Christopher Yost and Craig Kyle. Yost was a co-writer on "Thor: The Dark World".
"Thor: Ragnarok" to hit theaters on November 3, 2017.