The first Beverly Hills Cop film was released in 1984
Actor Eddie Murphy is to reprise his role as Detroit detective Axel Foley in a fourth instalment of Beverley Hills Cop, according to reports.
Rush Hour director Brett Ratner is also in negotiations to direct the film, according to industry paper, Variety.
Film company Paramount is aiming to start production on the comedy next year for a summer 2010 release.
The first instalment in 1984 made stand-up comedian Murphy a household name and took $316m (£160m) worldwide.
The last film in the series was released in 1994. Altogether, the three films grossed $712.9m (£361m).
Jerry Bruckheimer, who produced the original Beverly Hills Cop trilogy with late partner Don Simpson, will not be actively involved in the new film, Variety says.
The announcement comes as the revived Indiana Jones franchise storms cinema box offices worldwide.