According to The Hollywood Reporter, an official offer will be made to the Smart People director within the next week.
Previous reports suggested that Unknown director Jaume Collet-Serra was also in line for the job. However, the studio has instead tasked him to helm its Akira adaptation.
Originally called Xerxes, the sequel was recently retitled 300: Battle of Artemisia, and will be based on 300 writer Frank Miller's upcoming graphic novel.
The film will follow 300 villain Xerxes's rise to power as the god-like leader of Persia, although it is unknown whether Rodrigo Santoro will still portray the character.
300 director Zack Snyder penned the film's script with Kurt Johnstad, but was unable to direct the project due to his involvement with Superman reboot The Man of Steel.
Watch the trailer for 300 below: