The 50-year-old actor announced the news in a video posted to the official Ghostbusters Twitter account on Thursday.
“When I heard that they were going to call me, as you can imagine, I nearly slimed myself,” he said.
“I can’t wait to join the cast this fall for Ghostbusters,” he continued as he stood in front of the iconic Firehouse, Hook & Ladder Company 8 building in New York City, the location of the Ghostbusters’ HQ for all three films in the franchise.
“In fact, I’m sliming myself right now,” Rudd said.
According to Entertainment Weekly, the actor will play a teacher who lives in a small town.
Tapped to direct the fourth Ghostbusters film is the original director’s son, Canadian Jason Reitman (Juno).
“My agents called and said: ‘Hey, Jason. We hear there’s a part of a young… semi-young, strapping man that needs to be cast. Who ya gonna call?'” joked Rudd in the video.
Reitman’s father, Ivan, will return to the franchise as the film’s producer. He helmed the original Ghostbusters. He also directed the sequel, Ghostbusters II.
While it’s unclear if any of the original stars will reprise their roles for this sequel, Sigourney Weaver, who played Dana Barrett — the female lead in the original two films — recently suggested that she’ll be “working with the guys again” in an interview with Parade.
She didn’t add any additional details, however, Weaver confirmed that she will be reprising the role of Barrett in the upcoming film.
Weaver, 69, along with Murray, Aykroyd and Hudson, made a cameo in the third Ghostbusters film, a relatively unpopular 2016 female reboot entitled Ghostbusters: Answer the Call.
The younger Reitman was criticized earlier in the year after making comments that insinuated the all-female remake was bad.
WATCH: Teaser trailer — Another ‘Ghostbusters’ movie
The first official teaser trailer for the upcoming film dropped in January and revealed the return of the iconic Ecto-1 car, best known as the “Ectomobile.”
The unofficially titled Ghostbusters 3 is slated for a July 10, 2020 release.
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