The show’s co-creator Dan Povenmire has signed an overall agreement with Disney, and as per the agreement he will produce two more seasons of “Phineas and Ferb”. These two seasons will contain a combined 40 episodes.

The story of "Phineas and Ferb" follows the adventures of stepbrothers Phineas and Ferb as they use their summer break to come up with logic-defying projects. 

Other than these 40 episodes the series also boasts 189 episodes that aired between 2008 and 2012, including a batch of episodes on Disney XD and two films - "Phineas and Ferb the Movie: Across the 2nd Dimension" and "Phineas and Ferb the Movie: Candace Against the Universe."