
Marvel Studios is reportedly developing a second Thor spin-off project centered around a significant Thor: Love and Thunder character, but it may not have been everyone's first choice. Chris Hemsworth's Thor Odinson has been a staple of the Marvel Cinematic Universe (MCU) ever since his debut in 2011's Thor in Phase One, appearing in three sequels and four Avengers films. The collection of Thor movies introduced many interesting characters worthy of having their own spin-off project, with Tom Hiddleston's Loki being the first one to have his own Disney+ series in Phase 4.
Entertainment insider Daniel Richtman shared in a report that Marvel Studios is developing a spinoff project centered around Hercules. The character (portrayed by Ted Lasso star Brett Goldstein) debuted in Thor: Love and Thunder's post-credits scene after his father, Zeus (Russell Crowe), unleashed him to track down Thor to seek revenge.

Many of Phase 4's movies fell into the trap of including post-credits scenes focused on introducing a new hero, and actor into the MCU. Of the ones that fans got, Hercules' was perhaps the most underwhelming, with the scene itself feeling a bit forced and the demigod's future prospects in a solo project not being particularly exciting.
This is especially true given that there are other potential Thor spinoffs that seem a bit more interesting. A follow-up to Loki focused either on Sylvie's future adventures or the day-to-day of the new TVA could have further expanded that rich world. Thor: Love and Thunder even had another post-credits scene that seemed vastly more compelling; the ending tag of Jane Foster making her way to Valhalla and meeting Heimdall could have made for a neat set-up for a tag-team story with the duo.
In September 2022, Thor: Love and Thunder director Taika Waititi teased the future plans for Hercules, noting that the character's introduction in the film opened up a "whole new thing:"
“And then [Louis D’Esposito?] is like, 'We’re gonna introduce Hercules,' and um, that made no sense to me, I didn’t even know that was a character in Marvel, but um, apparently it is, and um... It was good, I know it’s opening up a whole new thing, uh, which I won’t be invited to come and be a part of, but I’m happy for everyone who loves Greek Gods.”
While details about the spin-off are unknown, it's reasonable to assume that it could dive deep into Hercules' story, leading up to the events of Thor: Love and Thunder.
The Hercules project is set to be the second Thor spin-off under the MCU after Loki. As for the God of Thunder himself, the character is set to appear in two upcoming projects: Avengers: Doomsday and Thor 5.
Avengers: Doomsday

Thor is set to appear next in Avengers: Doomsday, reuniting with the rest of Earth's Mightiest Heroes as they battle against Robert Downey Jr.'s Doctor Doom.
While the God of Thunder's role in the crossover movie is still being kept under wraps, Chris Hemsworth recently celebrated his MCU tenure as Thor, potentially teasing that the character could meet his end in Avengers 5. Still, given his significance and the fact that Valhalla exists, there is reason to believe Thor's story is far from over even in death.
Thor 5 (Rumored)

Thor 5 has been part of the rumor mill ever since Thor: Love and Thunder's ending teased that the character's journey would continue. While Marvel Studios has yet to confirm Thor 5, a previous rumor claimed that the fifth installment is still in the works and will reportedly not include Taika Waititi as its director.
Moving on from Waititi would mean that Thor 5 will embrace the more serious side of the God of Thunder while focusing more on the action instead of the franchise's comedic elements.
Doing this would achieve Hercules actor Brett Goldstein's R-rated plan to bring down Thor while also digging deep into the character's roots in Norse mythology and his further ties to the gods.