The Terminator sci-fi action franchise is set to be rebooted for a new trilogy of films.

Studio executives at Paramount Pictures have decided to give the original movies, which starred Arnold Schwarzenegger as the futuristic robot character, a modern makeover, with the first installment expected to hit cinemas in July, 2015.

The Hollywood action man led the cast for three films from 1984's Terminator to 2003's Terminator 3: Rise of the Machines, and featured as a CGI (computer-generated imagery) image in Terminator Salvation in 2009, and it appears he will be back for the remakes.

During a recent speech at the 21st Century Financial Education Summit in Australia, he said, "I'm very happy that the studios want me to be in Terminator 5 and to star as the Terminator, which we start shooting in January."

Paramount bosses have yet to officially announce details of the new deal with Schwarzenegger.

Screenwriters Laeta Kalorgridis and Patrick Lussier have been hired to come up with the new plot, while rumors suggest Fast Five filmmaker Justin Lin is in talks to direct.