Will Smith will face a "cold-blooded killer" in 'Bad Boys for Life'.

Will Smith

Will Smith

The 50-year-old actor and his co-star Martin Lawrence confirmed last year they are working on the upcoming third instalment of the much-loved thriller/mystery franchise, and now further plot details have emerged.

Jacob Scipio is set to portray the head of a drug cartel, Armando Armas, who is on a mission to take down Smith's alter-ego Mike Lowry.

Paola Nunez has also been revealed as the AMMO unit's newly recruited head, Rite, who is also a former love interest of Lowry.

A description of the synopsis reads: "The new instalment centres on the Miami PD and its elite AMMO team's attempt to take down Armando Armas (Scipio), head of a drug cartel.

"Armando is a cold-blooded killer with a vicious, taunting nature.

"He is committed to the work of the cartel and is dispatched by his mother to kill Mike (Smith). (Paola) Nunez will take on the role of Rite, the tough and funny criminal psychologist who is the newly appointed head of AMMO and Mike's former girlfriend - and the one who got away."

The plot reveal comes after Vanessa Hudgens was announced as the latest cast member to join the long-awaited third movie.

The 30-year-old actress - who was best known for portraying Gabriella Montez in the 'High School Musical' film series - was confirmed for the movie along with 'Riverdale' star Charles Melton and 'Vikings' actor Alexander Ludwig.

Responding to the news, she wrote: "Stoked!!!!"

The trio will be part of a special police squad in Miami that clashes with Will and Martin's alter egos, Detectives Lowry and Marcus Burnett.

The duo both starred in the 1995 film 'Bad Boys; and its 2003 sequel 'Bad Boys II'.

Confirming that they had reunited and are set to reprise their roles, Martin took to Instagram to post a picture of himself next to 50-year-old Will and said the third movie was now "official".

He wrote: "It's official. Bad Boys for Life. #teammartymar #badboysforlife @willsmith #weback (sic)"

For Martin, the return marks the first time he's been in a movie since 2011's 'Big Mommas: Like Father, Like Son', and the first time he's acted at all since appearing in the 2014 TV series 'Partners'.

'Bad Boys for Life' has been discussed for years and suffered several false dawns, largely due to Will's hectic schedule, but in October, it was reported that Sony Pictures were on the cusp of giving the movie the green light.

Production is set to begin in early 2019, with the film having been handed a tentative release date of January 2020.