The 45-year-old actor and musician, who recently starred in Quentin Tarantino's Oscar-nominated film 'Django Unchained', will return to the studio to begin work on his follow-up to 2010's 'Best Night of My Life', reported Contactmusic.
"We're going to work on some music with Kanye, Will.I.Am and a few other people," he said.
Quizzed on whether he may team up with R&B superstar Beyonce, who is also back in the studio working on her fifth studio album, he said, "I don't know about Beyonce, but she's great though."
The actor has released four albums in the past, with 2005's 'Unpredictable' reaching number one on the album charts.
In the past Foxx has collaborated with the likes of West, Justin Timberlake, TI and Ne-Yo.