The highly awaited premiere date announcement from Showtime is finally here. The network announced that both "Ray Donovan" and "Masters of Sex" will be returning for their third season on July 12. 

"Ray Donovan" fans are excited to see what the show's third season has in store for them, especially since stellar actors Ian McShane, Elliott Gould, and Katie Holmes will be joining the cast as guest stars. 

Showtime released the season plot for the record-breaking crime drama, which reads:

"Season three finds Ray [Liev Schreiber] adrift from his family and those closest to him, while he focuses on his business and desires to be his own boss. Meanwhile, his father Mickey (Jon Voight, in his Emmy-nominated and Golden Globe-winning role), who had narrowly escaped last season's heist debacle, finds himself charting a similar course to build his own empire." 

The upcoming season will also show a slight deviation from the original story of the series, which showcased Ray's job as a notorious Hollywood fixer. Instead, the show will zoom in on the Donovan family drama and how it will affect the lead character as a whole. 

Meanwhile, the third season of "Masters of Sex" will present the new struggles of Dr. William Masters (Michael Sheen) and Virginia Johnson (Lizzy Caplan) as their sex study has finally been revealed to the public. The show will also feature the growing relationship conflict between the doctor and his secretary, as well as Dr. Masters' wife Libby (Caitlin FitzGerald). 

The period drama series is based on the Thomas Maier novel titled "Masters of Sex: The Life and Times of William Masters and Virginia Johnson, the Couple Who Taught America How to Love." 

The show also stars Teddy Sears, Nicholas D'Agosto, as well as Annaleigh Ashford. 

"Ray Donovan" will air first at 9 p.m. while "Masters of Sex" will follow at 10 p.m. on Showtime.