Three years after the events of the first film, the Szalinskis have moved to a new neighborhood and given birth to their third child, Adam (Joshua and Daniel Shalikar).

One day when Adam is exposed to its effects, he mistakes Nick and his crush, Mandy Park (Keri Russell), as toys and wanders into Las Vegas.

With The Walt Disney Studios developing the film for theatrical release, Josh Gad was announced to star as Nick Szalinski.

[3] In January 2020, Rick Moranis entered early negotiations to come out of his acting retirement, and reprise his role as Wayne Szalinski.

Johnston was confirmed to direct, with Todd Rosenberg set to write the script, from an original story by Gad, Ryan Dixon, Ian Helfer, and Jay Reiss.

[5][better source needed] In March of the same year, filming on all Disney projects were halted due to the COVID-19 pandemic and industry restrictions worldwide.

[9] In June 2023, Gad revealed on Twitter that the project has been put on hold indefinitely, although he expressed hope that production would resume in the future.

A 4-D movie-ride attraction titled Honey, I Shrunk the Audience debuted at Epcot in 1994 and featured at the Disney theme parks until 2010.

Rick Moranis, Marcia Strassman, Robert Oliveri, and Daniel and Joshua Shalikar reprise their roles from the feature-length films.

The story states that his grandfather established the institute, while the area features references to Wayne Szalinski, as well as Dr. Philip Brainard from Flubber and Dean Higgins (Joe Flynn's role in the Dexter Riley films).