Reports earlier last month claimed that filmmaker Adam Shankman had begun pre-production on a follow-up, titled "Disenchanted", reports aceshowbiz.com.
Adam, who played princess-to-be Giselle in the original, has now shared that she saw the movie again recently and thinks the time might be right for her to return to the role.
"I absolutely loved playing Giselle, and I recently watched it again. I hadn't watched it in years. I don't typically watch the films that I'm in very often, so it was nice to get to revisit it with some perspective," she told Britain's Empire magazine.
Adams added: "I'd be thrilled to do a sequel. If it were the right time and the right story, it would be a lot of fun. I could lose that levity right now."
The "Nocturnal Animals" star is less optimistic about reprising another of her most famous roles, however, as she thinks she won't be playing Lois Lane again in Warner Bros. "Superman" and "Justice League" movies.
"I would totally be open to playing Lois but I think (the studio is) moving in a different direction, from what I understand," she said.