Ric Roman Waugh will direct the next installment in the “Olympus Has Fallen” series, “Angel Has Fallen” starring Gerard Butler.

Butler returns as secret service agent Mike Banning and Morgan Freeman is also on board to reprise his role.

Butler will produce with his partner Alan Siegel at their G-BASE production banner, alongside Danielle Robinson. Millennium Entertainment’s John Thompson, Matt O’Toole, and Les Weldon will also produce, with Avi Lerner, Trevor Short, and Boaz Davidson exec producing.

Heidi Jo Markel will also exec produce on behalf of Eclectic Pictures

“Olympus Has Fallen” bowed in 2013, grossing $170.3 million worldwide, including $98.9 million at the domestic box office. The sequel, “London Has Fallen,” did even better overseas, earning $205.8 million worldwide, leading Millennium to move forward on a third installment.

After saving the president in the first two pics, secret service agent Banning himself becomes the target of terrorists, this time while mid-flight on Air Force One.

Insiders say Butler has been a fan of Waugh’s work since seeing his first film, 2008’s “Felon,” and has wanted to collaborate with him ever since. After attending an early screening of Waugh’s new movie, “Shot Caller,” which earned rave reviews after its premiere at the Los Angeles Film Festival, with a handful of producers, Butler was convinced that Waugh was the perfect person to bring a new vision to the franchise.

“Shot Caller” serves as the end of the filmmaker’s prison trilogy that featured “Felon” and the Dwayne Johnson-starrer “Snitch.” Saban Films acquired “Shot Caller” from Relativity following the studio’s bankruptcy and set it to hit theaters on Aug. 18. It’s currently on premium video-on-demand.

Waugh is repped by WME and Anonymous Content.