The 43-year-old filmmaker is known for his work on the "Three Flavours Cornetto" comedy film trilogy - which included "Shaun of the Dead", "Hot Fuzz" and "The World's End".
He said while he's not sure if he wants to spend three years of his life making a sequel to the 2007 police comedy, he has talked about the idea with lead actor Simon Pegg, reported Contactmusic.
"I've definitely had some ideas and me and Simon have even talked about it at points, but it's that thing of, do I want to spend three years of my life doing that?