The TV channel made the exciting announcement on Valentine's Day, and revealed they are looking for willing singletons.
After weeks of rumours and speculation, ITV2 tweeted a series of messages announcing the matchmaking series will return later this year.
They tweeted: "Are you single and ready to mingle? Apply here for the ultimate summer of love: http://www.itv.com/loveisland #LoveIsland #findmelove."
Host Caroline Flack, meanwhile, added: "Are you single on Valentine's Day??? Why not apply for Love Island ... Because we are back baby."
Fans responded with happy messages, including: "YES! I was obsessed with this show last year! PLEASE say @carolineflack1 is hosting again?"
Another said: "Please do a Celeb one again. The members of the public one is just so predictable : fame hungry, vapid commoners."
Ouch! (Bet they still tune in, though!)
Are you single on Valentine's Day??? Why not apply for Love Island ... Because we are back baby https://t.co/KoZFf1FiGB— caroline flack (@carolineflack1) February 14, 2016
Where can I applyhttps://t.co/nCpS8KeQfw— Olly Murs (@ollyofficial) February 14, 2016
If there WAS ever a celebrity version, Caroline's X Factor co-host Olly Murs seemed keen, joking: "Where can I apply?"
This year's villa will see a few changes, including an outdoor gym and a re-designed Love Shack for couples to sneak away to for some flirty action.
Another new twist will see the public given more powers to make and break the villa's couples with a new app that can let the audience decide who to send into the villa, who to send home and who to win the prize.
Love Island made its return last year, after first hitting our screens with its celebrity version over 10 years ago.
The series saw the likes of Luis Morrison, Cally Jane Beech, Jon Clarke, Hannah Elizabeth and eventual winners Jess Hayes and Max Morley make a name for themselves on the show.
While Luis and Cally are still going strong, Jess and Max split six weeks after the show wrapped up, and Hannah and Jon later called off their engagement too.
Here's 10 reasons why we believe a second series of Love Island will be amazing!