Eddie Murphy is back in “Beverly Hills Cop: Axel F” … and, it’s gonna redeem the franchise after the third film bombed with critics and fans — so says Bronson Pinchot.

The actor — who’s played the flamboyant fan-favorite Serge since the 1984 original — tells TMZ ‘Axel F’ has the secret sauce that made the first two films ’80s blockbusters … namely, the entire OG cast is back in a story that’s vintage buddy cop.

BP uses the metaphor of his beloved bird flying into a wall to describe the ‘BHC3’ flop — but, the bird survived, and he says the series is mending in much the same way.

FWIW … Eddie also recently blasted the 3rd film, telling Seth Meyers it lacked “a great villain,” which shouldn’t be a problem this time — ’cause Kevin Bacon‘s playing the big bad in the new flick … a plot twist EM spoiled on “Late Night” … Oops.

BP says embodying Serge once again was a snap … adding he’s asked all the time to do the character by fans via Cameo … so he had no trouble slipping right back into the role.

As for getting back together with the old gang — which beyond EM includes Judge Reinhold, John Ashton and Paul Reiser — check out the clip. Sounds like the crew’s still tight as ever.