NASA determines the next likely target destination for a flyby by New Horizons, a small object in the Kuiper Belt called 2014MU69. It orbits almost a billion miles away from Pluto. A full proposal about the mission will be evaluated by NASA experts before the go ahead is officially given. NASA Science Mission Directorate Chief Grunsfeld:
Even as the New Horizon’s spacecraft speeds away from Pluto out into the Kuiper Belt, and the data from the exciting encounter with this new world is being streamed back to Earth, we are looking outward to the next destination for this intrepid explorer. While discussions whether to approve this extended mission will take place in the larger context of the planetary science portfolio, we expect it to be much less expensive than the prime mission while still providing new and exciting science.