Ed Skrein is also on board to join the cast, with “Pirates of the Caribbean: Dead Men Tell No Tales” helmer Joachim Ronning set to direct.
If a deal closes, Pfeiffer is on board to play the queen in the movie.
Joe Roth is producing the film, with Jez Butterworth and Linda Woolverton penning the latest script. Micah Fitzerman-Blue and Noah Harpster wrote the most recent draft.
It is not clear where this film will pick up following the first movie, which was based on the fairy tale “Sleeping Beauty.” The original story centered on an evil fairy who cursed an infant princess to eternal sleep, only to realize the young girl was the only one who could save the kingdom from its dangerous ruler. “Maleficent” broke several box office records on its way to making $758.5 million worldwide.
Production on the sequel is set to start in 2018.
After taking some time off, Pfeiffer has been busy in the past year, starting with her Emmy-nominated role in the HBO movie “Wizard of Lies,” where she played Bernie Madoff’s wife, Ruth. She followed that up with scene-stealing roles in Darren Aronofsky’s “Mother!” and “Murder on the Orient Express.”
Pfeiffer can be seen next in Marvel’s “Ant-Man and the Wasp,” her first comic-book role since her famous turn as Catwoman in “Batman Returns.”
She is repped by CAA and Management 360.
POPULAR ON VARIETY.COM: