Tim Allen Says Disney “Reached Out” To Him And Tom Hanks About Toy Story 5

Tim Allen confirmed that both he and Tom Hanks have been looped into the upcoming Toy Story 5 project — the first time that the public has heard anything about the newest installment of the Pixar favorite since the Disney CEO officially announced it in February.

Now that the movies’ two biggest stars seem to be on board, it feels like this is really, really happening, and the whole production might be ready to move forward to infinity.... and beyond!

Allen spilled the beans on The Tonight Show on November 22, when host Jimmy Fallon asked for an update.

“Is there a Toy Story 5? Because I love the movies,” Fallon ventured.

“Bob Iger, head of Disney, said it was on and he actually said it was going to happen,” Allen responded. “They have reached out to Tom and I to reprise the roles. They’re not saying anything about it. I’m a big sci-fi fan, and you wonder if four was too many. Is five going to be too much?”

He reassured everyone, though, that he’s excited about the writer on the project, though he wouldn’t name them.

“According to the scuttlebutt, the writer that’s doing it wrote one of the better ones and said, ‘If I didn’t get this right, I wouldn’t do it.’ So, it could be a very, very interesting way to reunite it.”

This is the first update since Iger announced several sequels in February: Zootopia, Toy Story, and Frozen. With news of a Toy Story 5, Disney fans across the globe lost their minds.

To date, it's one of the most beloved Disney brands, and it’s been going strong since the original film was released way back in 1995. A generation of kids watched Andy grow up and grew up with him — and some of us who were kids when the first Toy Story was released have now moved on to sharing pals Woody and Buzz with our own kids. Why not keep the tradition going?

Even the big guy himself, Iger, seemed excited when he shared the news during his Q1 earnings call. "Today, I'm so pleased to announce that we have sequels in the works from our animation studios to some of our most popular franchises, Toy Story, Frozen, and Zootopia," he said. "We'll have more to share about these productions soon, but this is a great example of how we're leaning into our unrivaled brands and franchises."

And Disney might need these well-loved sequels to get Pixar out of its recent rut — last year’s Toy Story spinoff movie Lightyear didn’t do great at the box office, and Elemental didn’t reach beloved movie status, either. Fans are now looking forward to Frozen 3 & 4 along with Inside Out 2 — and now Toy Story 5 on top of that.

What more could a Disney adult ask for? Deets! You want deets! While all fine details haven't been released yet, here's what insiders know or assume about Toy Story 5.

What's Toy Story 5 about?

If you remember anything about 2019's Toy Story 4 ending, it's that it saw the separation of Buzz and Woody. Woody and Bo Peep saw that Bonnie no longer needed them, so they decided to stay behind with their new "lost toys" gang at the carnival. Meanwhile, Buzz and the rest of Bonnie's toys returned to the RV to continue on with Bonnie, literally rolling off into the sunset without their fearless leader, Woody.

How do you have a Toy Story movie without Woody? Well, they did it just last year with 2022's release of Lightyear. Who says they can't do it again? Still, it seems highly unlikely. Whether Bonnie's family returns immediately or comes back the following summer, there are easy, obvious ways Disney's storytellers could reunite Buzz and Woody. Assuming, of course, that everyone is on board for Toy Story 5.

Who's on board for Toy Story 5?

Who's in and who's out for Toy Story 5 is a bit of a loaded question right now. Right off the bat, you probably know not to expect Mr. Potato Head, as the man behind his iconic voice, Don Rickles, passed away in 2017. Beyond that, there's no reason to assume Woody and Buzz's friends won't all return. But, what most people want to know is whether we can expect the return of Tom Hanks as Woody and Tim Allen as Buzz.

Following the announcement from Iger, Allen was quick to announce his return in a tweet. The actor wrote, "See ya soon, Woody, you are a strange little man, and you have my pity. And off we go to number 5! To infinity and beyond!"

And now Allen seems to further confirm his involvement on The Tonight Show — though looking at the fine print, he says that Disney “reached out” to him and Tom, not that they had accepted their roles.

Also, as previously mentioned, Toy Story 4 did seem to write out Woody and Bo Peep. Plus, Hanks is no stranger to social media, and as of yet, he hasn’t posted about a commitment to Toy Story 5.

On the other hand, Hanks did an interview with Graham Norton several years ago, where he shared with fans that his brother actually does Woody’s voice for all the toys and extra merchandise. Maybe if Tom is too busy, Disney can swoop up Jim to voice the part of Woody. They sound so similar; it’s the only replacement that could ever truly work.

When will Toy Story 5 release?

Now calling for best guesses! While some things about Toy Story 5 seem easy to speculate, a release date is a little harder to pin down. Pixar has three “untitled” movies slated for release in June 2025, March 2026, and June 2026. One of those is surely Toy Story 5... but which one? With an average time of four to five years between Toy Story releases, that technically puts Toy Story 5 solidly in 2026 (if you count Lightyear as a Toy Story movie). Toy Story has performed well in the past as a Disney/Pixar “summer blockbuster,” so everyone’s betting on that June 2026 slot. That seems so far away. Can you make it?

Will it release in theaters or go straight to Disney+?

During the early days of COVID, Disney tried a few different release options. While releasing straight to Disney+ was indeed popular, not everyone appreciated it when Disney still tried to charge extra for exclusive access to its newest movie releases. Then, when 2022’s Lightyear was released, we saw a return to Disney movies in theaters. So, there’s little doubt that Toy Story 5 will also have an “only in theaters” release.

Don’t want to pay movie theater prices? Same! The good news is that the wait between theaters and digital releases is much shorter than the days of waiting for DVD releases. Lightyear came to Disney+ a mere two months (or so) after being released in movie theaters.

Whoever’s involved and whenever it releases, Toy Story 5 is sure to be a massive, well-loved hit.