Hellboy 3 is a distant possibility.  Problem is there’s a multitude of reasons why it probably won’t happen.

For one, Ron Perlman has stated publicly that getting made up in the Hellboy outfit for many hours each day was a toiling process and he doesn’t want to go through it again.

Another reason: the last movie, Hellboy II: The Golden Army, didn’t do tremendously well at the box office.

And it seems director Guillermo del Toro is trying to find his footing again in Hollywood after two drawn-out, very public divorces from big-time studio projects; i.e. The Hobbit and At the Mountains of Madness. 

Selma Blair talked to Bloody-Disgusting about completing the Hellboy trilogy, and out of everyone involved in the first two movies, she’s the most excited about doing another one.

She says:

“It’s my dream to work with Guillermo del Toro again. I just want to be near him. I love him. I miss him. It’s my dream that one day when I’m done with the TV Show [Anger Management] they say, ‘ok the movie’s actually going to go!’ That would be the biggest heaven.”

On Hellboy II‘s cliffhanger ending and where the story might go from there:

“I mean it’s all set up. ‘Hellboy 3′ is the biggest payoff and the biggest horror. I want to see what these twins are up to, if one’s the devil and one’s an angel. I want to see what Hellboy and Liz are up to! I know the film is the apocalypse and the apocalypse isn’t cheap to shoot so we have to find some funding and get going with it!”

Source: Bloody-Disgusting