The product line will debut in spring/summer 2010 in the UK, with roll-out in other markets including the US, expected to follow.
Under the multi-year licence, Fisher-Price has global rights (excluding Asia) to develop pre-school, infanct and toddler toys including plastic figurines, toys, vehicles, playsets and plush.
David Allmark, UK general manager of Fisher-Price's parent company, Mattel, added; “3rd & Bird! is an enormously exciting property and we are delighted to be working with BBC Worldwide again to launch this major pre-school brand.
"This is also a fantastic opportunity for Fisher-Price to further our relationship with Little Airplane - their fresh and iconic style of animation provides the perfect inspiration for developing a memorable and successful toy line.”
Julia Posen, commercial director, BBC Worldwide Children’s and Licensing said: “3rd & Bird! is a unique programme and we are keen to capitalise on the global appetite for animation to deliver a successful licensing programme on launch in 2010.
"It’s great to be working with Fisher-Price on the property too. The deal signifies our commitment to working with world-class partners to develop fantastic children’s toys that enhance their experience of the TV show.”
BBC Worldwide holds the global distribution rights including porgamme distribution, DVD and merchanidising for the animated pre-school series, which is produced by Little Airplane Productions.
Further licences have also been announced with Aykroyds and TDP Licensing signed for nightwear and underwear, Roy Lowe and Sons for socks and Willian Lamb for wellies, slippers and trainers.
Character World has been signed to produce bedding from Autumn 2010, H&A will manufacture toiletries for the brand and Spearmark will design a line of homewares and lighting.
Ravensburger has been appointed to develop a range of puzzles and card games to launch by early 2010.
BBC Children's DVD has confirmed it will produce the first DVD of the series with episodes to launch in time for Easter 2009. The DVD will contain eight episodes of the animated series under the title 3rd and Bird: Bird's the Word.
Finally, BBC Children's Books today confirmed that a publishing range will launch to time with the first line of toys in Spring 2010.