Sylvester Stallone is set to start shooting 'Rambo 5' this year.

The 68-year-old action legend is to reprise his role as Vietnam War veteran John Rambo in another movie and has revealed the title of the next instalment will be 'Last Blood'.

The title is a reference to the first film in the series, 1982's 'First Blood', implying the sequel will be the final adventure for the anti-hero.

Stallone revealed the title of the movie in a Twitter exchange with fans, after informing his followers he will be shooting gangster movie 'Scarpa' after 'Rambo' wraps. He said: ''Doing Scarpa based on Gangster Greg Scarpa after LAST BLOOD RAMBO... (sic)''

In biopic 'Scarpa', Stallone is playing title character Gregory Scarpa - also known as 'The Grim Reaper' - who was the chief enforcer for the Colombo Mafia crime family who eventually turned FBI informant.

The actor has been preparing for the new 'Rambo' film since last summer, when he revealed he had undertaken a tough training regime to get in shape for the role.

He said at the time: ''I'm getting ready, I've started to work out. I'm going to be appropriately vicious and all that stuff, but intellectual.

''A killer with a heart. Smart, yet stupid. Tall, yet short. Broad, but thin. You know what I mean. We're going to try to cover all the boundaries.''

The rumoured plot for the film will see Rambo face off against a Mexican cartel, with Stallone claiming the highly-anticipated sequel is his version of 'No Country for Old Men' - the neo-Western thriller which starred Javier Bardem and Tommy Lee Jones.

Stallone is set for a busy 2015 as he is also reprising his most iconic character, boxer Rocky Balboa, in spin-off film 'Creed' in which he will train the grandson of his rival-turned-friend Apollo Creed.

Shooting on the project - which stars Michael B. Jordan star as the aspiring pugilist - begins in Philadelphia this month.