The comic and actor, 63, revealed the news during an appearance at Trevor Noah's World Cup Watch Party this week when he was asked directly by a fan whether Austin Powers 4 would ever happen.
Myers, who created and starred in the series as Austin Powers, Dr Evil, Fat Bastard and Goldmember, responded with a simple one-word confirmation.
Asked by a fan: "Are we ever going to see an Austin Powers 4?", he replied: "Yes".
The brief response immediately sparked excitement among fans of the "shagadelic" secret agent, although Myers declined to provide any further details about the project, including potential storylines, casting announcements or a release date.
The announcement comes 24 years after Austin Powers in Goldmember reached cinemas and follows years of speculation about whether the franchise would return.
Austin Powers remains one of the most successful comedy franchises of the late 1990s and early 2000s, with the three films collectively grossing more than $US660 million ($A940 million) worldwide and becoming a major part of popular culture.
Austin Powers first arrived in 1997 with Austin Powers: International Man of Mystery, introducing audiences to the flamboyant British spy who is cryogenically frozen in the 1960s before awakening in the modern era.
The character was followed by Austin Powers: The Spy Who Shagged Me in 1999 and Austin Powers in Goldmember in 2002.
Across the trilogy, Myers became renowned for playing multiple characters, including Austin, Dr Evil, Fat Bastard and Goldmember.
The films also attracted a string of high-profile cameos from stars including Tom Cruise, Gwyneth Paltrow, Britney Spears and Beyoncé.
The franchise remains one of Myers' most celebrated creations alongside Wayne's World and the Shrek series, in which he voices the title character.
