The much-awaited third instalment of The Princess Diaries series was greenlit on Friday. The film franchise, based on the young adult novel by Meg Cabot, stars Anne Hathaway in the lead role. The actor confirmed that she will reprise her iconic role of Princess Mia from Genovia, much to fans' delight.

( Also read: Princess Diaries 3 might be coming soon, will Anne Hathaway return? ) All about The Princess Diaries 3 Variery reported that The Princess Diaries 3 is produced by Debra Martin Chase, who originated the film franchise. Anne Hathaway will also produce under her Somewhere Pictures banner. Late on Friday night, Anne Hathaway shared the announcement news on her Instagram with a selfie video interspersed with clips from parts 1 and 2 as she recited the iconic 'Shut up!' line from the films.

The film has been in development for two years. Last year, Anne shared an update an interview with V Magazine. “We’re in a good place.

There’s nothing to announce yet. But we’re in a good place," she had said. Well, finally, it seems that the production has moved to an even better place.

The Princess Diaries follows teenager Mia Thermopolis who discovers that her estranged father was the King of a fictional kingdom called Genovia. After her grandmother (played by Julie Andrews ) comes forward, Mia must leave her city life to become a princess. The Princess Diaries 3 director A new director is set to helm the third part.

Adele Lim, best known for helming Crazy Rich Asians , has .