Universal 'planning fourth Bourne movie'
According to Variety, the actor will reprise his role as CIA assassin Jason Bourne, while Paul Greengrass will return for directorial duties.
George Nolfi - who wrote the script for The Bourne Ultimatum - is to pen the project, which will be the first movie in the series not based on the novels of late US author Robert Ludlum.
The last instalment The Bourne Ultimatum earned some $450m (£258m) around the world, but was widely expected be the last film in the hugely successful franchise.
Damon previously claimed he was "definitely done" with playing the character adding: "I think we've ridden that horse as far as we can."
"The character lives on in the books and if someone else wanted to play it, I guess they could," he remarked at the time.
Greengrass and Damon are currently working together on the Iraq-based thriller Green Zone.