Action movie icon Arnold Schwarzenegger announced he will be starring in the highly anticipated Terminator 5 and confirmed that the fifth installment of the film will start production in January 2014.

The former governor of California, who tours as a motivational speaker, made the announcement at 21st Century Financial Education Summit seminar in Australia.

"I'm very happy that the studios want me to be in Terminator 5 and to star as the Terminator, which we start shooting in January,"
Schwarzenegger told the crowd at the event.

The Austrian native starred as the cyborg assassin in three films released between 1984 and 2003. He wasn't featured in the most recent installment, Terminator Salvation, which starred Christian Bale and Sam Worthington and was one of the more poorly received releases from the sci-fi franchise.

Schwarzenegger also revealed that he will revive some of his other popular characters. The 13-time bodybuilding champion will revisit groundbreaking roles as Conan the Barbarian in King Conan and Julius Benedict in in the sequel to Twins, titled Triplets.

"I'm getting the [Terminator] script in two weeks from now," he said at the event.

Paramount Pictures is reportedly set to handle US distribution of the film--a job once held by Warner Bros., which distributed previous installments of the film up to the poorly received Terminator Salvation. Laeta Kalogridis (Shutter Island) and Patrick Lussier (My Bloody Valentine 3D) are reported to be writing the script.

The 65-year-old Schwarzenegger last starred in The Last Stand with Forest Whitaker and Johnny Knoxville and will play a member of an elite DEA task force in his next film Sabotage, which is set to be released in 2014. He will also have role in the third entry of the wildly popular Expendables franchsie. The film is rumored to be in pre production.