The first film catches up with Hansel (Jeremy Renner) and Gretel (Gemma Arterton) 15 years after the traumatic gingerbread house incident and finds them now serving as bounty hunters dedicated to exterminating witches.
Despite receiving negative reviews, the film has clocked up $205.9m worldwide at the box office, enough for studio execs to green-light a follow-up.
Will Ferrell, Adam McKay and Kevin Messick of Gary Sanchez Productions and Beau Flynn expected to return as producers on the second film.