Avatar 2 & Avatar 3 next directed by James Cameron

The deal between Cameron and 20th Century Fox was announced Wednesday. Cameron will direct the sequels, which will be his next two movie projects. Planned release dates for the tentatively titled Avatar 2 and Avatar 3 are December 2014 and December 2015.

“In the second and third films, which will be self-contained stories that also fulfill a greater story arc, we will not back off the throttle of Avatar’s visual and emotional horsepower, and will continue to explore its themes and characters, which touched the hearts of audiences in all cultures around the world,” Cameron told Daily Variety. “I’m looking forward to returning to Pandora, a world where our imaginations can run wild.”

No word yet on plot possibilities (though Cameron has previously noted that part two would focus on the oceans of Pandora) or on which actors may be returning (Sam Worthington and Zoe Saldana are a given), but there's little denying that 'Avatar' is poised to become one of the most popular film franchises of all time.

“Avatar is not only the highest-grossing movie of all time; it created a universe based on the singular imagination and daring of James Cameron, who also has raised the consciousness of people worldwide to some of the greatest issues facing our planet,” Gianopulos and Rothman told Daily Variety. “We had no greater priority, and can feel no greater joy, than enabling Jim to continue and expand his vision of the world of Avatar.”