The sequel to the star-studded and non-existent film is called "Movie: The Movie Twovie" and features many stars including Bradley Cooper, Jessica Chastain, Jude Law, Salma Hayek, John Krasinski and Samuel L. Jackson. It "promises to be the biggest, most star-studded imaginary film of all time."
"This is our big special of the year, so we go all out. These bits we put together, they take months to assemble. We'll shoot for 30 days with various people to put one of these bits together," said Kimmel.
Last year's trailer for "Movie: The Movie" received nearly 20 million views on YouTube alone.
The 8th annual "Jimmy Kimmel Live: After the Oscars" special includes guests Jamie Foxx, Channing Tatum and "Good Morning America" host Robin Roberts.
One more surprise involves a twist on one of the films nominated for Best Picture.
"We have a take-off on 'Life of Pi,' featuring a certain South Korean pop star. I think you can probably figure it out," said Kimmel.
Kimmel's previous post-Oscar specials have featured Oprah Winfrey, Tom Cruise, Ben Affleck, Robert Downey Jr., Matt Damon, Jon Stewart, Billy Crystal and Ellen DeGeneres.
With Oscar Sunday just days away, play the My Picks game to choose who you think will win in each award category.
Have a smart phone or tablet? Download the free official Oscars app to get news and updates about the show. It's available for Apple, Android and Kindle devices.
The Oscars will air live on ABC7 on Feb. 24.
Oscar Sunday lineup:
- 1:30 p.m.: On The Red Carpet at The Oscars
- 4 p.m.: The Oscars Red Carpet Live
- 5:30 p.m.: The Oscars
- 8:30 p.m.: On The Red Carpet at The Oscars
- 10 p.m.: Jimmy Kimmel Live
- 11 p.m.: Eyewitness News