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The actor revealed that the team behind the 2004 comedy about a 1970s newscaster will soon meet to discuss the follow-up, claims STV.
He said: "Yeah we're trying to figure out when and how we should do that. In fact, I think next week we're going to meet with all the guys and see if we can actually pull this off."
The Saturday Night Live alumnus said that he hopes to get orginal co-stars Steve Carrell and Paul Rudd involved in the project.
He added: "Because especially with Steve and Paul, they're in different places with their careers it's a lot harder to get us all together."
Ferrell, 41, wrote the screenplay for the first film and also starred as the titular Anchorman. His latest movie Land Of The Lost opens in US cinemas on June 5 and in the UK the following month.
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