The 47-year-old funnyman played the villainous Mugatu in the first film and his character will be in 'Zoolander 2' too, said The Hollywood Reporter.
"We are actually supposed to do a read-through of a sequel script soon, and Mugatu is a part of it," he said.
Ben Stiller, who directed the 2001 comedy and played the lead role named Derek is expected to reprise his role in the sequel.
Actor Jonah Hill is reportedly eyed to play a new villain as well.
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