The new movie, which was announced last year, is to be set "some years after the first film concluded".
Hampton Fancher, who was co-writer of the original Blade Runner movie with David Webb Peoples, is also in talks to reunite with Scott on the follow-up.
Alcon Entertainment producers Andrew Kosovoe and Broderick Johnson said in a statement: "It is a perfect opportunity to reunite Ridley with Hampton on this new project - one in fact inspired by their own personal collaboration [and] a classic of cinema if there ever was one."
Scott had hinted that a sequel was on the cards during an interview last winter.
Alcon denied in February that original Blade Runner star Harrison Ford was in talks to reprise his role as replicant hunter Rick Deckard, dismissing speculation around his potential involvement as "patently false".
Watch a trailer for the original Blade Runner movie below: