When Deadpool first hit screens in 2016, it became an instant hit with Marvel fans - garnering significant financial and critical success. With the movie's unique humor and twisted jokes, film fanatics were gripped by the on-screen iteration of the foul-mouthed comic book character.

And this week, it has been confirmed that Deadpool 3 is in the works.

It has been a rocky ride so far and getting the green light hasn't been simple. Keep scrolling to get all the details on the upcoming flick.

Deadpool is one of the most popular and unique superheroes.

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The foul-mouthed character, whose real name is Wade Wilson, first appeared in The New Mutants Marvel comics in the '90s.

He obtains the superhuman ability that allows him to regenerate and recover from deadly injuries.

Best known as the "Merc with a Mouth," Deadpool has a tendency to talk and crack jokes more than actually saving the world (or at least doing a good job of it).

His unique humor landed himself a dedicated fanbase.

Some people are dedicated enough to have him inked on themselves! And it wasn't long before we saw the mouthy degenerate on other media away from comic book pages.

Much to the delight of fans, in 2016, Deadpool got his own dedicated movie.

The movie chronicles the origin story of former Special Forces operative turned wisecracking mercenary, Wade Wilson.

Ryan Renolds brought the character to life.

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The movie also stars Morena Baccarin, Brianna Hildebrand, T.J. Miller, and Stan Lee.

A rogue experiment to cure his cancer leaves Wilson with healing powers...

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But it also leaves him terribly disfigured. So, with his brand new superpowers in tow, he adopts the famed alter ego, Deadpool.

Ajax, who gave him the sadistic treatment, tries to keep him a prisoner.

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... But Deadpool escapes. The movie then follows the superhero in his pursuit to track down the man who ruined his life.

The movie was a box office smash hit.

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Deadpool achieved significant critical and financial success, grossing an eye-watering $783.1 million at the box office.

It also bagged several top awards.

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Deadpool has several accolades under its belt, including an MTV Movie & TV Awards,  a Teen Choice Award, and a nomination at the 2017 Golden Globes.

So it was no surprise it was picked up for a sequel.

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Deadpool 2 hit screens last year, and once again opened to an impressive reception.

The movie enjoyed equal financial success as the original.

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Deadpool 2 raked in a whopping $785 million in box office revenue.

Unsurprisingly, fans rallied for a third installment of the much-loved franchise.

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Though there's no doubt that the film would prove popular, getting the green light for Deadpool 3 hasn't been quite that simple.

Earlier this year, Disney acquired FOX, who happen to produce the Deadpool films...

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The purchase of Fox studios was made as part of an eye-watering $71 billion dollar deal, meaning Disney now owns the rights to franchises such as X-Men and Fantastic Four. Now, it seems like the Disney empire is bigger than ever, with a growing chunk of Hollywood in its hands.

But the deal has sparked speculation when it comes to Deadpool.

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Many have questioned whether Disney will downplay or completely restrain the R-rated superhero.

It meant the on-screen future of the superhero hung in the balance...

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And it left fans with several burning questions. Will Deadpool be joining the MCU? Or is this the end for the Merc with a Mouth?

Earlier this year, we started to get some answers.

Speaking to EW, co-writer Paul Wernick said Marvel has given them permission to continue making R-rated films for the Deadpool franchise. "Marvel has promised to continue to let us play in the R-rated Deadpool universe, and the hope is that they will also let us veer into the MCU a little bit as well and play in that sandbox," Wernick explained.

And Disney CEO, Bob Iger, also backed this up.

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Back in February, Igner said Disney would allow R-rated movies to go forward, specifically mentioning Deadpool as an example. "We do believe there is room for the Fox properties to exist without significant Disney influence over the nature of the content, meaning that we see that there is certainly popularity amongst Marvel fans for the R-rated Deadpool films, as a, for instance, we’re going to continue in that business," he explained.

But this week, there's been some exciting news.

Deadpool 3 is officially in the works at Marvel Studios.

The news was confirmed by the man behind the superhero, Ryan Reynolds.

The actor revealed the news during a Christmas Eve interview on Live With Kelly and Ryan: "We're working on it right now with the whole team. "We're over at Marvel [Studios] now, which is like the big leagues all of a sudden. It's kinda crazy. So yeah, we're working on it."

Most importantly, when will the movie be hitting screens?

Sadly, there's no official release date just yet, so watch this space for more details!

But we can confirm one thing.

Things are moving forwards - as Deadline has announced today. Want more Marvel news? Keep scrolling to find out why Jennifer Aniston thinks there should be "fewer" Marvel movies...