It has been confirmed that Paramount Pictures is in talks with Matt Reeves to direct a sequel to Cloverfield. According to Variety, Reeves has already made a deal with GreeneStreet Films to direct The Invisible Woman.
There is a strong possibility that the Cloverfield sequel will be Reeves next film, though he is getting ready for production on The Invisible Woman at this very moment. Matt Reeves wrote the screenplay for The Invisible Woman and J.J. Abrams is signed up to produce the Hitchcock-style thriller as well as the Cloverfield sequel.
Paramount Pictures has not announced when production on the Cloverfield sequel will begin.