The synopsis suggests the movie will pick up with Thor (Chris Hemsworth) in jail, separated from his hammer Mjolnir and forced to fight against former ally The Hulk (Mark Ruffalo) in order to return to Asgard and save it from the villainous Hela (Cate Blanchett).
Hopefully Waititi had a better time making it than the last director. In 2015, the director of the second Thor movie, Alan Taylor, criticized the Marvel process, describing it as "absolutely wrenching".
"I was sort of given absolute freedom while we were shooting, and then in post it turned into a different movie. So, that is something I hope never to repeat and don't wish upon anybody else."
Waititi is still working on the movie, as he revealed in a joke tweet aimed at Donald Trump.
Thor: Ragnarok will also star Tom Hiddleston, Sir Anthony Hopkins, Karl Urban and Benedict Cumberbatch, who was confirmed this week to reprise his role as Doctor Strange from the 2016 movie.
It is set for release in America on November 3. There is no New Zealand release date yet.