Actor Matt Damon and director Paul Greengrass are reportedly planning to revive the Bourne franchise at Universal Pictures.

According to Variety, the pair have done a backflip on previous declarations that they were done with the Hollywood blockbuster action series.

Damon and Greengrass worked together on The Bourne Supremacy (2004) and The Bourne Ultimatum (2007), which completed the trilogy after Doug Liman directed the original film, The Bourne Identity (2002).

As recently as last year Greengrass said there was nowhere for Damon's character, superspy Jason Bourne, to go creatively once he'd regained his memory.

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But they are now reportedly in early talks to return with Universal, which is already developing another untitled Bourne feature directed by Justin Lin and starring Jeremy Renner, who's returning to play Aaron Cross.

That film, which remains in development and would follow the Tony Gilroy-directed spin-off The Bourne Legacy, was slated for a July 16, 2016 release.

It's unknown whether it will stay there or the new film will take it place, Variety reports.Universal have not commented on the reports.

Damon's three Bourne movies, based on the Robert Ludlum novels, grossed nearly US$1 billion worldwide at the box office.

- AAP