The 40-year-old star says she just needs a good idea to go ahead with the third installment, reported E! online.
"We've thought about it. I need somebody really clever to come up with a great idea and we'll do it.
"I do think it's a good time to do it. I think women need that kind of positivity right now," Witherspoon said.
The actress was seen last seen playing Elle Woods in "Legally Blonde 2: Red, White & Blonde" which released in 2003.
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