Under their Important Pictures banner, Parker and Stone will make the high school comedy "My All American" and a cheesy rubber-suit thriller called "Giant Monsters Attack Japan," Daily Variety reported.
Parker will direct both films while Stone will produce and both will participate in the script-writing process.
"My All-American" will be comprised of a young cast, marking the first time Parker and Stone have worked with real life actors since their pre-"South Park" features "Cannibal: The Musical!" and "Orgazmo," Variety noted.
"Neither of these movies feel like vehicles for big stars, but this will be our opportunity to find out if there are any actors left who want to work with us," Stone said.