Paramount and DreamWorks have officially announced that they will be making Transformers 3, and releasing the film July 4 2012 , previously there was a date of July 1st 2011 but Michael Bay wrote the following on his official website:

Wait a minute! I said I was taking off a year from Transformers. Paramount made a mistake in dating Transformers 3 - they asked me on the phone - I said yes to July 4 - but for 2012 - whoops! Not 2011!!! That would mean I would have to start prep in September. No way. My brain needs a break from fighting robots. No word on if Michael Bay or stars Shia LaBeouf and Megan Fox are set to return, but I would be really surprised if it didnít happen.

If there's going to be a third Transformers movie, Michael Bay will be back to make it.

And star Shia LaBeouf promises it'll be darker than the first two. Shia labeouf also said it's going to be darker than the first two and someone has to die. I think it will be Sam or Optimus prime again. Hinting at a darker tone, he says, "Someone has to die".

While a third chapter hasn't been officially announced, Bay says he intends to return to the franchise if No. 3 moves forward.