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Harrison Ford's final outing as Indiana Jones will be "emotional and exciting" as the franchise heads back to its roots after a badly received fourth instalment.
Ford is well-known for his portrayal of the archaeologist and adventurer, and has agreed to reprise the role one last time.
Indiana Jones 5 will begin shooting next year, and much of the plot line will be centred around the Bermuda Triangle, an area over the North Atlantic Ocean where a number of aircraft are said to have disappeared.
"George (Lucas) and Steven (Spielberg) have been working on a script and it's almost there," a source explained.
"Harrison is on stand-by for filming next year. This looks like being an emotional and exciting conclusion to the franchise, with Indy facing his biggest challenge yet."
The last film in the franchise, Indiana Jones and the Kingdom of the Crystal Skull, was released in 2008 and performed well at the box office, but was savaged by critics.
Shia LaBeouf played Indiana's son Mutt Williams, and he will also appear in the new instalment.
Movie bosses have assured fans the film will stay true to the series' roots, and won't contain lots of state-of-the-art special effects.
"Shia LaBeouf has a central role again as Indy's son but this will be a blockbuster made in the old fashioned way rather than the CGI efforts of the last movie," the source added.
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