Tom Holland as Spider-Man. Sony

Spider-Man fans can breathe a sigh of relief: Disney and Sony have finally reached a deal to keep the superhero in the Marvel Cinematic Universe, at least for a little while. After months of tension, the two studios announced Spider-Man will return to theaters in 2021.

Sony Pictures Entertainment and The Walt Disney Studios jointly announced Friday a partnership to release a third film in the "Spider-Man Homecoming" franchise under Marvel Studios President Kevin Feige. Tom Holland will return to the iconic role in the movie, which is scheduled for release on July 16, 2021.

The announcement comes after the studios appeared to cut ties over the franchise earlier this month. A deal between Marvel and Sony brought Tom Holland into the "Avengers" franchise, but the deal expired after "Spider-Man: Far From Home" — Sony's highest-grossing movie of all time.

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Zendaya, who plays MJ in the franchise, shared her excitement over the decision with a fitting gif on Friday.

"I am thrilled that Spidey's journey in the MCU will continue, and I and all of us at Marvel Studios are very excited that we get to keep working on it," Feige said in a statement. "Spider-Man is a powerful icon and hero whose story crosses all ages and audiences around the globe. He also happens to be the only hero with the superpower to cross cinematic universes, so as Sony continues to develop their own Spidey-verse you never know what surprises the future might hold."

Holland's character will also continue to appear in other MCU films, the studios said. Amy Pascal, who produced the previous two Spider-Man films in the series, will return as well.

Holland joked about the move on Instagram, posting a clip from the movie, "Wolf of Wall Street," in which Leonardo DiCaprio's character pretends to leave his firm, but does not actually leave.

"This is terrific. Peter Parker's story took a dramatic turn in Far From Home and I could not be happier we will all be working together as we see where his journey goes," said Pascal. "This has been a winning partnership for the studios, the franchise and the fans and I'm overjoyed it will continue."