'Kick-Ass 2' is set to begin shooting this year.
Universal have reportedly approached Jeff Wadlow to direct the script he has written for the film, which has been approved by 'Kick-Ass' director Matthew Vaughn.
Universal have also opened talks with three of the original film's stars, with Aaron Johnson, Chloe Moretz and Christopher Mintz-Plasse all expected to return, according to Deadline.
Matthew will return to the sequel as a producer but his commitments to 'X-Men: First Class 2' have prevented him from taking on directing duties again.
Jane Goldman, who wrote the screenplay for the first movie, previously admitted she was "amazed" at the response Chloe - who played foul-mouthed 11-year-old assassin Hit Girl - had for the part.
She said: "We didn't set out to shock, we just wanted to tell a good story.
"I was a little bit amazed that the Americans were more offended by the C-word than by the fact Hit-Girl was cutting people's legs off."
'Kick-Ass' - which starred Aaron as the titular hero - made $96 million worldwide on its release in 2010.