Katsura Hashino, the director and producer for the PS2 role-playing games Persona 3 and Persona 4, has announced in a recent interview with Japanese magazine Dengeki PlayStation that they are beginning work on Persona 5, saying that "we are preparing to start work on the next Persona".
In August 2009, Sony's cell phone site listed Atlus video game composer Shoji Meguro as the producer of Persona 5, and numerous other rumors have said that the game would be released on the PlayStation 3.
Fans should expect some changes in the title, however. During the interview Hashino says they "want to add things that are being expected of the series", but "also want to change things that can be changed within those boundaries". As for what these changes might be, we will have to wait till Atlus releases more information about the title.
Source: FC2 (via Dengeki PlayStation)