"I am thrilled that Spidey's journey in the MCU will continue, and I and all of us at Marvel Studios are very excited that we get to keep working on it," Feige said in the release. "Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe. He also happens to be the only hero with the superpower to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold."
Watch this: Spider-Man: Far From Home director talks postcredit scene shocks
There was concern that Far From Home would be Peter Parker's MCU swan song -- Sony owns the cinematic rights to the character, and a deal with the Disney-owned Marvel Studios allowed the wall crawler to appear in the MCU.
That deal expired with Far From Home, and the Sony-Marvel relationship was apparently severed after Disney sought a greater cut of box office revenue from future Spider-Man films. Far From Home made $1 billion at the box office, becoming Sony's highest-grossing movie of all time.
Tom Holland will return as Peter Parker and the cast from Homecoming and Far From Home -- Zendaya, Jacob Batalon, Marisa Tomei and Jon Favreau -- are expected to return for Spidey's third solo MCU adventure, along with Jon Watts as director. Amy Pascal will rejoin Feige on production duties.
"This is terrific. Peter Parker's story took a dramatic turn in Far From Home and I could not be happier we will all be working together as we see where his journey goes," Pascal said in a release. "This has been a winning partnership for the studios, the franchise and the fans and I'm overjoyed it will continue."
This won't necessarily be Holland's last solo outing as the webslinger, according to Comicbook.com sources. It'll just wrap up his MCU storyline. The actor posted a clip from The Wolf of Wall Street to celebrate.
"We have had a great collaboration over the last four years, and our mutual desire to continue was equal to that of the many fans," said Robert Lawson, Sony Pictures' chief communications officer, said in an emailed statement. "We are delighted to be moving forward together."