Valve is finally returning to tell more stories set in the Half-Life universe later this month with Half-Life: Alyx, but this isn't the end of the original trilogy fans have been waiting for since Half-Life 2: Episode Two released in 2007. Alyx is a prequel that's set before the events of Half-Life 2 surrounding a Vance family adventure.
However, this won't be a one-off Half-Life game by the company according to Valve's Robin Walker. In an interview with Game Informer, Walker said the following when asked if the company is still working on Half-Life 3:
Half-Life means a lot to us, and it's been incredibly rewarding to refamiliarize ourselves with its characters, setting, and mechanics. There are Half-Life: Alyx team members who have been at Valve since Half-Life 2, and quite a few who go back to the original Half-Life. There are also people on the team for whom Half-Life: Alyx is their first time working on this series at all – and many of them certainly hope it's not the last.
And now for the most important part of the answer, where he added, "We absolutely see Half-Life: Alyx as our return to this world, not the end of it." Sadly, just like before, there's no telling how long we will have to wait to see the next game.
While this doesn't confirm Half-Life 3 and doesn't mean all those old jokes should be brought back, at least the company is looking forward to adding more content to the universe. We will have to wait and see if the studio will go back to building a traditional game or stick to VR for any future titles as well.