That’s what Daily Variety says:

Universal — which has a three-year first-look deal with the helmer inked in June ’07 — and del Toro are making a long-term commitment by setting up four directing projects, including remakes of “Frankenstein,” “Dr. Jekyll and Mr. Hyde” and “Slaughterhouse-Five.”

Not to mention the two Hobbit movies with Peter Jackson. The excellent movie website First Showing has a nice rundown on del Toro’s slate of movies including these:

Frankenstein (Directing) On the horizon is also a remake to the classic monster tale, “Frankenstein,” a story del Toro has loved for some time, particularly the 1931 film released by Universal. Of the mythology, del Toro said, “To me, Frankenstein represents the essential human question: ‘Why did my creator throw me here, unprotected, unguided, unaided and lost?’ What I’m trying to do is take the myth and do something with it, but combining elements of Frankenstein and Bride of Frankenstein without making it just a classical myth of the monster. The best moments in my mind of ‘Frankenstein,’ of the novel, are yet to be filmed.” It’s pretty much a safe bet that we’ll see del Toro’s Frankenstein eventually, as he added, “With that one, they will have to pry it from my cold dead hands to prevent me from directing it.”

Dr. Jekyll and Mr. Hyde (Directing)
Almost as retold as many times as “Frankenstein” is the story of “Dr. Jekyll and Mr. Hyde.” For the new film, apparently del Toro, “wants to stick more closely to Robert Louis Stevenson’s prose and explore the addictive high the repressed Jekyll experienced as his murderous alter ego.” Stevenson released the split-personality psycho-tale in 1886, which has seen countless adaptations in the media since, both on the big screen and otherwise. Last I recall seeing the character was in the embarrassing comic book extravaganza League of Extraordinary Gentlemen in 2003. I definitely welcome del Toro’s fresh new take.

Universal explained their rationale for the long-term multi-project deal with del Toro thusly:

U production prexy Donna Langley said the helmer’s “Hobbit” hiatus will only delay plans to dive into the del Toro business.

“We came out the other side of some tough conversations with a stronger bond and sense of long-term commitment,” Langley said. “Guillermo is in the most prolific time of his life … Joe Johnston on ‘The Wolf Man’ showed us the importance of entrusting the Universal franchise monsters to experienced filmmakers with voices. That was a big impetus for our decision to go with Guillermo to put his creative stamp on these properties.”

Del Toro’s comments re Frankenstein are intriguing, about it representing the “essential human question” — basically why am I here? Of course the monster does have a more tactile sense of that question, rather than a typical human’s more ethereal take on the meaning of life, (a) since the monster’s creation is as unusual as it is compared to the typical genesis of human life and (b) the monster can actually talk to its ‘god,’ Dr. Frankenstein — ask the good doctor “why.”

In thinking back on the original Frankenstein, even in the original book, the focus is so much on Dr. Frankenstein, his growing sense of destiny as a result of his experiments. The movie does switch focus to the monster, much like King Kong, spending a lot of time ‘humanizing the beast’ so the viewer will find some empathy for the creature; hence, the bifurcated emotional response to the ending, satisfied at the creature’s destruction, but sad nonetheless.

It appears from Del Toro’s comments, he’ll take a more monster-centric approach. In a way, I guess that fits the spirit of the times with our dark, brooding good guys (Batman) and bad guys (Joker).