The fifth part of "Transformers" is scheduled to hit the screens in 2017.

`Our plan with the studio and filmmakers... you may have heard that some writers are being hired and we have in fact brought in Akiva Goldsman to lead a group of writers to really create a strategic plan around 'Transformers'," said Hasbro CEO Brian Goldner, reports aceshowbiz.com.

`We would expect the sequel to the 'Transformers' movie to happen in 2017,` he added.

The last film "Transformers: Age of Extinction" released in 2014 with Mark Wahlberg as the new male lead, replacing Shia LaBeouf. It became the first film in the year to hit $1 billion mark despite little critical praise.

Wahlberg is expected to reprise his role for "Transformers 5".