The 2004 comedy hit, about a misogynistic news team in '70s San Diego, took $90 million at the worldwide box office and helped launch Ferrell and Office star Steve Carell's movie careers.
Speaking to IESB.net, Ferrell said that he is "definitely willing to go back" and play Burgundy again.
"I think myself and Steve, we are all in different places when we filmed it, so we have to figure that out," he commented. "We've never been huge on the sequel thing in a way and yet, I was always kind of prodding him that if we were to do a sequel on anything, Anchorman would be the one to do it on."
Ferrell added that the success of the character on his and Anchorman director Adam McKay's comedy tour sparked the idea of a follow-up.
"It seems like it would be so much fun and so, I think Adam kind of came around on that idea and we started doing Ron Burgundy on the 'Funny Or Die' comedy tour and that got everyone fired up again," he said. "So, yeah, hopefully, we can actually get this going."