The long-awaited follow-up to 1989's Ghostbusters 2 has been rumoured for several years.
"We've got a new writing staff working on it now," Aykroyd told WIVB.
"It's got to be perfect. That's the whole thing. There's no point in doing it unless it's perfect. So that's what we're up to now."
There has been much speculation as to whether notoriously elusive star Bill Murray would return for a sequel.
He was rumoured to have shredded a previous script, but recently told David Letterman that he was willing to "try again".
"You've just got to have a really good script. It's hard," he said. "Even the second Ghostbusters wasn't as funny for me as the first one. It's hard to make a sequel.
"It's got to be really funny and that first one was so darn funny. I think we'll try again. I always drag my feet on it."
The writing staff for Ghostbusters 3 are yet to be named.
Watch Murray discuss the project with Letterman below: