Director Guillermo Del Toro has announced that plans to get the ball rolling on another Hellboy film have failed, saying in a tweet that a new Hellboy movie "100% will not happen," and that this was to be his final update on the project.
Hellboy 3 Sorry to report: Spoke w all parties. Must report that 100% the sequel will not happen. And that is to be the final thing about it— Guillermo del Toro (@RealGDT) February 21, 2017
The parties to which Del Toro seems to be referring are likely Hellboy creator Mike Mignola and Hellboy actor Ron Perlman. This group also likely involves Columbia Pictures, who released the two previous films, and possibly other key castmembers.
It's unclear how or why the talks to create Hellboy 3 fell apart, or if it was simply a matter of all parties coming to a mutual decision. The previous Hellboy film, Hellboy II: The Golden Army, was released in 2008 and ended on a cliffhanger tease for a third film.