Reynolds, who bought the Welsh football club in 2020 alongside fellow acting star Rob McElhenney, took to his Youtube channel this week to share that he has been working on a new Deadpool film "for a good long while".
He has enjoyed starring roles in film and television for 30 years but his biggest commercial successes came in the 2010s with the Deadpool superhero films.
Australian actor Jackman, meanwhile, found his breakthrough as Wolverine in 20th Century Fox's X-Men films and various spin-offs. The 2017 standalone Logan had been billed as his final outing as the character, before this week's shock announcement that he will reprise the role in Deadpool 3.
In an update to his Youtube channel, which has almost 4 million subscribers, Reynolds said: "We've been working very hard on the next Deadpool film for a good long while now."
Nodding to the irreverent nature of the Deadpool films, he joked about "searching my soul" and "finding new depth, new motivation, new meaning" before revealing that the creative team's "one new idea" was to ask Hugh Jackman to play Wolverine "one more time".
According to the video, the film will be released on September 6, 2024.