Tim Allen reveals ‘Toy Story 5’ buzz: Bob Iger told Tom Hanks and me ‘it was on’

To infinity and beyond — again? Tim Allen and Tom Hanks could be returning as Buzz Lightear and Woody in “Toy Story 5.”

On Tuesday night’s episode of “The Tonight Show Starring Jimmy Fallon,” Allen, 70, revealed that he and Hanks, 67, are in talks to get back behind the mic.

“Bob Iger, head of Disney, said it was on,” Allen said of a fifth film in the 28-year-old franchise. “He actually said it was going to happen. They have reached out to Tom and I to reprise the roles, [but] they’re not saying anything about it.”

Iger announced that a sequel was in the works in February, when he also confirmed that there will be new “Frozen” and “Zootopia” movies.

Allen also told Fallon, “The writer that’s doing it wrote one of the better ones and he said, ‘If I didn’t get this right, I wouldn’t do it,’ so it could be a very, very interesting way to reunite it.”

The “Toy Story” franchise, which kicked off Pixar back in 1995, has been hugely successful for Disney, grossing more than $3.3 billion worldwide. 

While Hanks and Allen voiced their action figure characters in the first four films, a 2022 spinoff called “Lightyear” starred Chris Evans in the title role. It was a box office bomb that, reportedly, lost Disney $106 million.

Allen admitted he’s a bit worried about “Toy” fatigue.

“What it is for people like me, it’s just like… you wonder if four was too many, is five going to be too much?” he said.

But a new “Toy Story” will be a boon for struggling Pixar. While this year’s “Elemental” was a modest success, grossing $494.5 million, the studio hasn’t had a boffo hit since “Toy Story 4” back in 2019.