Meledandri doesn't want to change the successful franchises too much, he said, and hopes to keep the voice cast of the popular films, which includes Mike Myers, Eddie Murphy and Antonio Banderas.
"When you look back on those vocal performances they're awesome, and while you certainly could make a case for a complete reinvention, I find myself responding to my own nostalgic feelings of wanting to go back to those characterizations," he told Variety. "The challenge for us has been to find something that really does feel like it's not simply yet another film in a series of sequels."
A source confirmed that "a Shrek project is in development at DreamWorks Animation." Meledandri oversees DreamWorks and Illumination, which are both owned by Universal.
But not all fans think Shrek needs a cinema shakeup. And others think that if the original cast is back, it's not even a shakeup to begin with.
Illumination Entertainment, founded by Meledandri in 2007, is most famous for its Minions films. That worries some, who don't think the Illumination style lends itself to the Shrek swamp.
It's unclear how this news is different from plans for Shrek 5. As of 2017, that film supposedly had a completed script, and reinvention of the series, maybe with a focus on Shrek and Fiona's kids, was already being talked about.
No date or title was announced for a new Shrek film, but it seems 2020 would be the earliest possible.