In an interview with MTV News Guillermo Del Toro has revealed that since he is so immersed in the world of the Hobbit (coming out in two movies, in which he is directing both) that the next Hellboy movie will be a few years away.
Del Toro said:
"We’re three, four years away from anything happening—so I don’t think anyone is, you know, in a big hurry.”
He has also offered up some encouragement for a spin off with the B.P.R.D. with someone else taking the helm. For those of you who don't know there is an entire comic series for the B.P.R.D, so there are plenty of Mike Mignola stories to choose from.
Also I dont know about anyone else but I am a big fan of Abe Sapien and think that maybe he could carry his own film, or at least an animated one.