It tweeted a save-the-date announcement earlier today, with an image of a giant, swirling "5". The event, to be held on 27 February, is also called "#BackTo5" and a supporting website further suggests the next ZenFone will be part of a new 5 Series.
Asus will be livestreaming the press event from 7.30pm CET (6.30pm GMT) on the day.
It is said that the new phone(s) will be available earlier than usual. Asus traditionally releases its handsets in August/September, but this time is expected to ship them March or April.
The company has released ZenFone 5 phones in the past, with the most recent appearing in 2015. That will explain the "Back To 5" slogan.
There are few other details on the specifications or features as yet, but Pocket-lint will be in attendance at its Barcelona press conference to bring you more. We will also be at Mobile World Congress all week, looking at all the announced phones and accessories at the show.
Join us at the end of February to keep up to date with all the action.