The 44-year-old actor has emerged as the frontrunner to play the role of Cheetah, who is known to possess superhuman strength and agility in the comics, reported Variety.
Wiig is popular known for films "Bridemaids", Ridley Scott's "The Martian" and all-female reboot "Ghostbusters", which also starred Melissa McCarthy, Leslie Jones and Kate McKinnon.
Actor Gal Gadot will reprise the titular role with director Patty Jenkins once again helming the project.
The sequel is rumoured to be set in the 1980s against the backdrop of the Cold War.
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