The 27-year-old actor and 32-year-old The Interview star first portrayed Teddy Sanders and Mac Radner in Neighbors (2014). Universal Pictures announced the sequel Friday, and revealed the film will premiere May 16, 2016.
Director Nicholas Stoller will return to helm the feature, with original writers Jay Cohen and Brendan O'Brien to write and co-executive produce with Nathan Kahane and Joe Drake. Rose Byrne is also confirmed to reprise Mac's wife Kelly.
Neighbors saw Mac and Kelly take on Teddy and his raucous fraternity, and earned $268 million on an $18 million budget. The new movie will reportedly see the couple team up with Teddy and his brothers against a wild sorority that moves in to the former frat house.
Efron will star with Emily Ratajkowski in We Are Your Friends, and is scheduled for Mike and Dave Need Wedding Dates. Rogen will appear in new James Franco film Zeroville, and portray Steve Wozniak in a Danny Boyle biopic about Steve Jobs.