Paul King will return to direct and co-write the sequel.
Simon Farnaby, who played Barry the security guard, will also return and will work with Paul King as a co-writer. Harry Potter producer David Heyman will also be re-joining the team.
It has been reported that StudioCanal, the financier and distributor of the first Paddington film, and David Heyman were keen to bring Paul King back on board, and that the project is a priority for both parties.
Paddington made £170m at the box office, after an overall production budget of approximately £36m.
Paddington was nominated for two BAFTA’s, for outstanding British film and best screenplay.
The film is expected to be released in 2017.