It is being reported by HitFix that Mike Myers has signed on the dotted line to make Austin Powers 4. There hasn’t been any other details about the story or other actors/directors that will be involved in the comedy.
The Austin Powers franchise includes Austin Powers: International Man of Mystery (1997) The Spy Who Shagged Me (1999) and Goldmember (2002).
Besides playing the voice of Shrek (which has been HUGE for him) for the last several years Meyers hasn’t been in a whole lot of films. I’m not sure another Austin Powers is necessary, none of them have compared to the first one, but then that’s usually how it works, isn’t it?