According to The Hollywood Reporter, Rhett Reese and Paul Wernick who wrote "Deadpool" are writing the script for the follow-up.
Although "Deadpool" helmer Tim Miller is not yet attached to direct, Fox is expected to keep all the creative team together for the second movie.
Both producer Simon Kinberg and Miller had talked about a sequel earlier.
"We certainly are talking about the sequel - we were talking about the sequel while we were making the movie just because when you make a film like this that's from a serialised source material, you hope that it's the first of many.
"Deadpool", set to open on February 12.
An R-rated action comedy based upon Marvel Comics' most unconventional anti-hero, "Deadpool" tells the origin story of former Special Forces operative turned mercenary Wade Wilson, who after being subjected to a rogue experiment that leaves him with accelerated healing powers, adopts the alter ego Deadpool.
Armed with his new abilities and a dark, twisted sense of humour, Deadpool hunts down the man who nearly destroyed his life.
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