The next Mass Effect has been named as Mass Effect Andromeda and is being released in Holiday 2016. This is being worked on byand will be a sequel to the original trilogy with Commander Shepard.
Teasing snaps of Mass Effect Andromeda were shown including a very fancy way to explore the new sections of the Milky Way we'll be travelling to. Sadly there's no solid gameplay or details yet.
Check out the announcement trailer below.