Thirteen years after its release, "Crouching Tiger, Hidden Dragon" is getting a sequel.

The Weinstein Company announced Thursday that the movie, which won an Academy Award for Best Foreign Language Film, is set to be followed up by "Crouching Tiger Hidden Dragon II - The Green Destiny." It will follow the story of "Iron Knight, Silver Vase," the fifth book in author Wang Du Lu's Crane-Iron Pentalogy, the same series on which the first "Crouching Tiger" film was based.

"Crouching Tiger" became a surprise international hit in 2000, grossing over $200 million worldwide and $128 million in the United States to become the nation's highest-earning foreign language film of all time. The story, set in western China, centered around two warriors' quest for a missing sword and the assassin who follows their every move.

"I loved Ang Lee's film," said TWC Co-Chairman Harvey Weinstein. "I thought it was a master class in directing, but I know we are in fantastic hands with Yuen Wo Ping directing the second installment of 'Crouching Tiger.' ... [Yuen] is a first-class director and choreographer, and I am thrilled to be teaming up with him once more. With John Fusco's incredible script and the dream team of [original stars] Donnie Yen and Michelle Yeoh we are in great shape."

Weinstein, Yuen, and Yen will further discuss the project at the Cannes International Film Festival this weekend.