Rapper Mike D confirmed to BBC Radio 1 that the group would be releasing Hot Sauce Committee Part 2 this spring and added that they were "open" to the idea of touring.
He explained that the decision would be based on how bandmate Adam Yauch was feeling. The musician is in remission after a struggle with cancer last year.
"We're still going to have to see how he's doing," Mike D said.
Of the band's future plans, he added: "We've got a video we got to finish, a big video.
"I know people don't make big videos any more but we made a big video. It's not even a video, it's a film-eo. A cinematic short film."