Disney has one again brought about some excitement as they've recently announced the upcoming addition to the 'Toy Story' franchise, and its release date. 'Toy Story 4' is set to hit the big screen on June 16, 2017, and will be directed by John Lasseter.

John Lasseter, who directed the original 1995 film and its 1999 sequel, will helm the reins for the newest addition to Pixar's franchise.

In regards to the film's storyline, 'Toy Story 4' will pick up from the events in the previous and will be a love story, Lasseter himself revealed.

The fourth sequel was the branchild of Pixar natives 'Toy Story 3' director Lee Unkrich, 'Up' director Pete Docter, 'Finding Nemo' director Andrew Stanton (himself working on a sequel to that film, 'Finding Dory'), and John Lasseter.

"We love these characters so much; they are like family to us," Lasseter said in a statement.

Adding, "We don't want to do anything with them unless it lives up to or surpasses what's gone before. 'Toy Story 3' ended Woody and Buzz's story with Andy so perfectly that for a long time, we never even talked about doing another 'Toy Story' movie.

He went on to say, "But when Andrew, Pete, Lee and I came up with this new idea, I just could not stop thinking about it. It was so exciting to me, I knew we had to make this movie -- and I wanted to direct it myself."

It would be a huge challenge for the 'Toy Story 4' team as the first three movies of the franchise raked in a whopping $1.3 billion across the globe and got positive reviews about their technique as well as the storytelling. "

'Toy Story 3' even won two Oscar awards for animated feature and original song-making it the third animated movie in history to be nominated for best picture.

Aside from that, the franchise has also appeared in the short films and two TV Specials, including 'Toy Story that Time Forgot' which is set to air on ABC on Dec. 2, as well as 'Toy Story of Terror' Halloween specials on ABC. The first one, in 2013, beat 'Survivor' and 'Criminal Minds' in the overnight Nielsen ratings.

Tom Hanks and Tim Allen will reprise their roles as voice actors of Woody and Buzz Lightyear, respectively. With them are Joan Cusack, Wallace Shawn, John Ratzenberger.

'Toy Story 4' will hit the big screen on June 16, 2017.