"Make a movie this summer!" Winter says, before adding: "It is all because of you guys, and so we owe you a huge debt of gratitude and we wanted to say thank you."
The third instalment will be directed by Galaxy Quest's Dean Parisot, while the writing team behind the 1989 original Bill & Ted's Excellent Adventure and 1991 follow-up Bill & Ted's Bogus Journey will reunite to pen the screenplay.
The first film saw the two lovable teenage burn-outs travel through time to bring historical figures back to their California hometown, to help them pass their high school history paper, while the sequel saw the pair head into the underworld and take on the Grim Reaper in games of Twister, Clue and Battleship.
Both movies became cult classics and introduced such phrases as "Party on, dudes!" and "Be excellent to each other" into the mainstream.
An official plot synopsis for Bill and Ted Face the Music from Orion Pictures explains: "Yet to fulfil their rock and roll destiny, the now middle-aged best friends set out on a new adventure, when a visitor from the future warns them that only their song can save life as we know it and bring harmony to the universe. Along the way, they will be helped by their families, old friends and a few music legends."