The third installment of the "Princess Diaries" is reportedly in the works at Disney.

According to Hollywood insider website Tracking Board, Walt Disney Pictures is moving ahead with "Princess Diaries 3.

" While Disney has yet to officially comment on the news, Debra Chase, the producer of the first two movies, is reportedly on board to take the helm of the reboot.

It is also unclear as to whether or not Anne Hathaway, who played the role of teen turned princess Mia Thermopolis, will return to star.

Tracking Board also reports that there is also the possibility that Disney may plan to reboot the franchise.

Julie Andrews also starred as Queen Clarisse Renaldi of Genovia in the film franchise that was based on a series of novels by Meg Cabot.