Revived Hollywood star Robert Downey Jr. will practice his on-screen super powers some more for Marvel Studios, as he has signed up to star in two more “Iron Man” films and in “The Avengers,” reports trade paper Variety.

Robert Downey Jr. made a stellar comeback this summer as the star of Marvel Studios’ blockbuster “Iron Man,” earning excellent reviews from film critics for his portrayal of billionaire industrialist Tony Stark, who has an epiphany and decides to bring his contribution of good to the world by inventing a power suit and becoming super hero Iron Man.

“Iron Man” has earned $578 million worldwide and of course a sequel has already been announced, with Downey and Jon Favreau, who directed the first pic, returning. It has also been announced that Terrence Howard, who portrayed Stark’s best friend and ally Col. James Rhodes, will not return for the sequel, being replaced with Don Cheadle. The sequel has been scheduled for a May 2010 release.

Variety now reports that Downey will return as Tony Stark/ Iron Man in a third installment of the franchise and in “The Avengers,” an action film that reunites super heroes Iron Man, Captain America, Thor and the Incredible Hulk. Favreau will executive produce this project, which is due in theaters in July 2011. Cheadle will also appear in “Iron Man 3” and “The Avengers.”

Marvel will self-finance and produce all upcoming three films, with Paramount distributing them.

Downey is currently working on Warner Bros.’ “Sherlock Holmes,” directed by Guy Ritchie and co-starring Jude Law as Dr. Watson and Rachel McAdams as femme fatale Irene Adler. The film is slated for an October 2009 release.

Downey has also signed to star in “Cowboys and Aliens,” a DreamWorks/Universal project based on a graphic novel which promises to be an ingenious mix between two antithetic genres.

Earlier this summer he appeared in Ben Stiller’s comedy “Tropic Thunder,” alongside Stiller, Jack Black and Steve Coogan. In May, he appears in the Joe Wright-directed drama “The Soloist,” opposite Jamie Foxx and Catherine Keener.