Russell Crowe in talks for Master and Commander 2
Crowe told the Associated Press that a script based mostly on the 11th novel in the series by Patrick O'Brian has been penned, but that talks were still in very early stages.
"There's still a long way to go," he told the news provider. He added that talks had been taking place with the owner of the rights to the novels.
The 2003 film was based on material from several of the 20 novels in the series, which are all set during the Napoleonic Wars.
Crowe is currently filming Ridley Scott's epic new adaptation of the classic Robin Hood myth.
Cate Blanchett co-stars in the film as Maid Marian, with Frost/Nixon's Matthew Macfadyen rumoured to be appearing as the Sheriff of Nottingham.