Hellboy 3: Will Ron Perlman and Guillermo del Toro Ever Finish the Trilogy?

Hellboy 3 has remained one of the most requested unmade comic-book sequels for nearly two decades, with fans still hoping to see Ron Perlman return under director Guillermo del Toro. Despite years of rumors, cast comments, and fan campaigns, a third Hellboy film has never moved forward. Recent statements from Perlman and del Toro have once again sparked debate over whether the trilogy can ever be completed—or if Hellboy 3 is destined to remain unfinished.

Mike Mignola introduced Hellboy in 1993, creating what would become an iconic character in Dark Horse Comics’ lineup. Born as a demon summoned by Nazi occultists during World War II - but later becoming a force for good - Hellboy has red skin, horns (which he files down), and a stone right hand. In both comic and film, he works as a paranormal investigator, battling supernatural threats while wrestling with his own internal, universe-altering demons (pun intended).

The character has garnered a dedicated fan base since his initial introduction, and Hellboy has led to the creation of multiple comic series, animated movies, and two distinct live-action film franchises. The initial installment of this series, featuring Ron Perlman, led to the release of Hellboy in 2004 and Hellboy 2: The Golden Army in 2008. Directed by Guillermo del Toro, both films were faithful adaptations of Mike Mignola’s vision for the character. They were not only critically acclaimed but also beloved by fans.

After the launch of Hellboy 2, there were arrangements made for a third movie to finalize the trilogy. However, several factors meant that these plans were disrupted almost from the outset. Del Toro had already indicated that he had responsibilities related to directing The Hobbit trilogy (which he then left due to delays). On top of this, the project faced a major budget hurdle. Del Toro made it clear that finishing the trilogy properly would require nearly double the budget of Hellboy II, a price tag that studios were unwilling to meet.

How the 2019 Hellboy Reboot Hurt the Franchise

Beyond this, between the release of Hellboy 2 and now, a disastrous attempted re-boot of the film series significantly damaged its reputation and likely caused financiers to balk at ideas for a big-budget Hellboy 3. All of this means that, 20 years on from the first Hellboy, fans have been holding out in vain hope for a trilogy closer. In recent years, actor Ron Perlman has voiced his own opinions about returning to play the iconic character.

Will Ron Perlman Return for Hellboy 3?

In a red carpet interview with TheHashtag show in February 2025, Perlman made clear that he would definitely be open to returning to play Hellboy - but only under one condition. Perlman’s condition was that Guillermo del Toro would have to return as director. Speaking frankly about the possibility of his return, Perlman said: “I had an opportunity to play the character for other people, and I passed. That’s his [del Toro’s] franchise as far as I’m concerned. I’m his boy.”

Are There Any Real Chances of Hellboy 3 Happening?

This has raised fresh speculation about whether Hellboy 3 might just be possible in the near future. However, timing is everything. It’s worth noting that Ron Perlman is currently 75 years of age, and the role of Hellboy is a highly demanding one. If he were to take on the project, things would have to move fast.

Guillermo del Toro’s Role in Hellboy 3

Guillermo del Toro has notoriously looked with favour on his time working on Hellboy. As recently as this year, del Toro was still referring to Hellboy as his “spiritual autobiography.” Despite this, the visionary director has been honest about the difficulties that have arisen in terms of bringing at 3rd Hellboy to life. As far back as 2014, he was commenting that it “has proven almost impossible to finance.”