Crowe played Captain Jack Aubrey in the 2003 drama about a British captain pursuing a French war vessel around South America.
The actor, who confirmed that he was in early talks for a follow-up last year, posted the message on Twitter today.
"If you want a Master and Commander sequel I suggest you e-mail Tom Rothman at Fox and let him know your thoughts," he wrote.
Master and Commander won Oscars for 'Best Cinematography' and 'Best Sound Editing' in 2004. It was also nominated in several other categories, including 'Best Picture' and 'Best Director'.