The series has grossed over $840 million worldwide. The first film received mixed reviews from critics, the second was unfavorably received and the third had a generally positive reception.In June 2008, Michael Bay stated that he may direct Bad Boys III, but that the greatest obstacle to the potential sequel would be the cost, as he and Will Smith demand some of the highest salaries in the film industry. By August 2009, Columbia Pictures had hired Peter Craig to write the script for Bad Boys III. In February 2011, Martin Lawrence reiterated that the film was in development. In June 2014, Jerry Bruckheimer announced that screenwriter David Guggenheim was working on the storyline for the sequel. Two months later, Lawrence said a script had been written and parts had been cast. By June 2015, director Joe Carnahan was in early talks to write and possibly direct the film. Two months later, Sony Pictures Entertainment announced that Bad Boys III would be released on February 17, 2017. On March 4, 2016, the film was pushed to June 2, 2017. Producers had planned to begin production in early 2017.

On August 11, 2016, the film was pushed back once again to January 12, 2018, to avoid box office competition with the upcoming DC Comics film Wonder Woman, and retitled Bad Boys for Life.[citation needed] Lawrence revealed on Jimmy Kimmel Live! that filming may start in March 2017. On March 7, 2017, Carnahan left the film due to scheduling conflicts, and in August 2017 Sony removed the film from their release schedule. In August 2017, Lawrence said that he doubts that the film will ever be made. During an appearance on Australian breakfast show Sunrise on January 15, 2018, Will Smith told hosts Samantha Armytage and David Koch that a third film was coming “very soon”. On January 30, 2018, it was announced that Sony Pictures were in negotiations with Adil El Arbi and Bilall Fallah to direct the upcoming third entry in the Bad Boys franchise titled Bad Boys for Life with a possible production date in August, 2018. Sony is reportedly gearing up for the long-awaited third installment to begin filming in November 2018 and wrap in March 2019.

In November 2018, Martin Lawrence officially revealed via Instagram that he and co-star Will Smith would return for a sequel. Joe Pantoliano is also set to reprise his role as Captain Howard. Vanessa Hudgens, Alexander Ludwig and Charles Melton were announced in the cast on December 20, 2018. Jacob Scipio and Paola Nuñez were announced in the cast on December 21, 2018. Filming began on January 7, 2019.