The reunion is expected to be announced officially at a press conference being held in London on Thursday.
John Cleese, Eric Idle, Terry Gilliam, Michael Palin and Terry Jones are all due to appear at the event.
Eric Idle tweeted: “Only three days to go till the Python press conference. Make sure Python fans are alerted to the big forthcoming news event.”
He added: “Python meeting this morning. Can’t wait. Press Conference Thursday will apparently be live on Sky News. I’ll get you the online URL.”
The last time the five remaining members of the iconic comedy group appeared together was in 1998 at the Aspen Comedy Festival.
The sixth member of the comedy troupe, Graham Chapman, died in 1989.
The press conference will take place at the theatre where Monty Python Spamalot is running – The Palace Theatre in London’s West End.
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