Myers announced he was working on another movie after the phenomenal success of the first three instalments garnered more than $676 million (£450 million) at the worldwide box office.
The funnyman revealed the plot would centre around bad guy Dr. Evil - and Troyer is eager to head back to the set.
He says, "I would (do the role). I think Mike is putting pen to paper - that's the rumour.
"I believe (there will be a fourth Austin Powers). It was a great experience, it was fun. I think Mike enjoys doing Austin Powers so I think it will be back and I'd love to be in it, hell yeah."