Hot on the heels of his new mixtape 'Blue Dream and Lean,' which dropped Tuesday (Nov. 29), Three Six Mafia fan favorite Juicy J has announced that he has signed with Wiz Khalifa's Taylor Gang imprint.

In an interview with AllHipHop Juicy J explained the move, revealing that he and Wiz are preparing to embark on a joint tour.

"Yeah man it's going down, that's it, it's real, it's done, I'm in," the veteran Memphis rapper explained. "That's my brother, we going on the road and we gonna impact."

While he appeared enthusiastic about his new signing, the Academy Award winner also revealed that he and longtime partner DJ Paul are working on a new Three Six Mafia album, likely slated for a 2012 release.

"He's [DJ Paul] working on some stuff, we still got Three Six Mafia, we still working, you know we got a new album," Juicy said. "I got a meeting with Sony tomorrow to see what's up with that, I got multiple hustles. I got Trippy T-shirts, hoodies and DVDs, man. We trippy mane."

Juicy J's DJ Scream-hosted 'Blue Dream and Lean' mixtape features new label boss Wiz Khalifa and up-and-comers A$AP Rocky, Kreayshawn, 2 Chainz, Casey Veggies, Alley Boy and Three Six associate Project Pat, with production by Lex Luger and Drumma Boy.

"It's just a blessing," Juicy said of the of his recent surge in popularity. "I've been doing this for over 20 years and people still embracing me and like my music and listen to me like I'm a brand new artist, so its amazing for me man."

Watch Three Six Mafia's 'Tear da Club Up'