K.B.
My daughter had lots of toys at that age also and they are certainly overwhelming when these items are all over the room. You might consider buying inexpensive plastic bins, which come in various sizes to store the toys. The idea is to keep one bin at a time in his room and rotate the toys between the bin that is kept in his room and those stored elsewhere.
Let him be in charge of identifying his favorite toys to put in the one bin that will be kept in his room. The other bins can be stored elsewhere outside of his room. Every so often, allow him to swith out (withdraw) the toys in his room for those in the stored away bins. If he wants three new toys for his room collection, then he must deposit this same number of toys to the stored away bins. You can even make coupons that he can present to you whenever he wants to make a switch. One coupon per toy. It's like having a toy bank, where he can make withdrawals and deposits and reduce the overall clutter in his room.