Tom Hanks has some good news for Woody and Buzz Lightyear fans as "Toy Story 4" has already started production in time for the anticipated release date by 2018.

"We're now recording Toy Story 4," Tom Hanks told "The Graham Norton Show.""So we're doing that and it will be out in 2018, so it takes a long time...We are working on it right now. I have a recording session on the second of December."

It was first reported that the release date for "Toy Story 4" would be in June 2017.

The "Toy Story" franchise is the best earning animated film for Pixar, earning $1,229,917,500 adjusting for inflation, said Box Office Mojo.

"The third movie ended in a beautiful way and completed a trilogy. I think this movie is not part of this trilogy. It is a separate story, which in turn I do not know if will be continued. Never begin a project with that in mind," Pixar president Jim Morris told Slash Film about "Toy Story's plot.

"It is not a continuation of the end of the story of Toy Story 3. Temporarily it is, but it will be a love story. It will be a romantic comedy," he added. "It will not put much focus on the interaction between the characters and children. I think it will be a very good movie."

Director John Lassiter added that the plot for "Toy Story 4" will revolve around a possible romance between Woody and Bo Peep.

"It's something we've never done with Toy Story before. It's a love story with Woody and - and this is news - Bo Peep," he said.

In the first "Toy Story" installments, there was clear attraction between Woody and Bo Peep, although the latter character wasn't seen much in "Toy Story 3." The plot for "Toy Story 4" is written by Rashida Jones and Will McCormack.

Watch out for more news updates on the plot and release date for "Toy Story 4" which will be published here when they become available.