Previously, it was reported that negotiations for a new Disney-Sony deal for the Spider-Man franchise had broken down due to disagreements on financing and profit sharing.

Just a month after declaring Spider-Man Far From Home as the hero’s swan song from the MCU, a recent report confirms that the House of Mouse and Sony have struck a new deal to extend Spider-Man’s stay in the MCU. With the new deal in place, Tom Holland will reprise his role as Peter Parker/Spider-Man in a third film installment under the MCU banner, with a possible appearance in another MCU film in the future. Marvel Studios’ Kevin Feige and Sony’s Amy Pascal will both oversee the third film as producers.

The yet-untitled third Spider-Man film already has a release date too: July 16, 2021. 

Full press release of the milestone deal below:

Sony Pictures Entertainment and The Walt Disney Studios jointly announced today that Marvel Studios and its President Kevin Feige will produce the third film in the SPIDER-MAN HOMECOMING series, starring Tom Holland. The film is scheduled for release on July 16, 2021. As part of the arrangement, Spider-Man will also appear in a future Marvel Studios film. Amy Pascal will also produce through Pascal Pictures, as she has on the first two Holland-led films.
“I am thrilled that Spidey’s journey in the MCU will continue, and I and all of us at Marvel Studios are very excited that we get to keep working on it,” said Feige. “Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe. He also happens to be the only hero with the superpower to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold.”
“This is terrific. Peter Parker’s story took a dramatic turn in Far From Home and I could not be happier we will all be working together as we see where his journey goes,” said Pascal. “This has been a winning partnership for the studios, the franchise and the fans and I’m overjoyed it will continue.”

The second movie, Spider-Man: Far From Home, grossed over a billion dollars in worldwide box office sales, with its blu-ray and digital versions releasing on October 1, 2019. The said movie also marked the end of MCU’s Phase 3 and the Infinity Saga.